Mosman Oil and Gas Limited Amadeus potential Joint Venture (7048T)
November 18 2019 - 2:00AM
UK Regulatory
TIDMMSMN
RNS Number : 7048T
Mosman Oil and Gas Limited
18 November 2019
18 November 2019
Mosman Oil and Gas Limited
("Mosman" or the "Company")
Amadeus potential Joint Venture
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration,
development and production company, has executed a Memorandum of
Agreement (MOA) and a Heads of Agreement (HOA) in respect to a
potential Joint Venture for its Amadeus Project located in Central
Australia.
Mosman recently attended and participated in presentations in
China on the invitation from the Northern Territory Government. The
objective of the presentations was to seek joint venture funding on
EP-145 in order to enable seismic work to be completed during the
2020 year and subsequently drill a well.
The outcome is that Mosman has now executed a Memorandum of
Agreement (MOA) and a Heads of Agreement (HOA) with parties and the
formal data review and detailed discussions will shortly be
underway. The timetable for these discussions, which will include a
site visit, will be firmed up in due course and following this and
a data review in Sydney, we will then be able to determine the
outcome.
Mosman is awaiting confirmation of the extension of the permit
and followed up with the relevant authorities, however Mosman has
not been advised of a timeframe of when it will be granted.
John W Barr, Chairman, said: "This is the first step in a
potential Joint Venture for Mosman's Amadeus Project. Site visits
and detailed data reviews will now be arranged to progress the
matter.
"Mosman appreciates the assistance of the Northern Territory
Government Departments who arranged the presentations and assisted
in subsequent discussions and expresses its thanks for all
concerned."
Competent Person's Statement
The information contained in this announcement has been reviewed
and approved by Andy Carroll, Technical Director for Mosman, who
has over 35 years of relevant experience in the oil industry. Mr.
Carroll is a member of the Society of Petroleum Engineers.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside
information for the purposes of Article 7 of Regulation (EU) No
596/2014 until the release of this announcement.
Enquiries:
Mosman Oil & Gas Limited NOMAD and Broker
John W Barr, Executive Chairman SP Angel Corporate Finance LLP
Andy Carroll, Technical Director Stuart Gledhill / Richard Hail
jwbarr@mosmanoilandgas.com / Soltan Tagiev
acarroll@mosmanoilandgas.com +44 (0) 20 3470 0470
Alma PR
Justine James
+44 (0) 20 3405 0205
+44 (0) 7525 324431
mosman@almapr.co.uk
Updates on the Company's activities are regularly posted on its
website www.mosmanoilandgas.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
JVEGGGACGUPBUQR
(END) Dow Jones Newswires
November 18, 2019 02:00 ET (07:00 GMT)
Mosman Oil And Gas (LSE:MSMN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Mosman Oil And Gas (LSE:MSMN)
Historical Stock Chart
From Apr 2023 to Apr 2024