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Mosman Oil & Gas Ltd - Sydney-based, Australia and US-focused oil and gas company - Signs farm-in agreement with Greenvale Energy Ltd subsidiary Greenvale Gold Pty Ltd, to fund seismic and drilling on Mosman's EP 145 project in Australia's Northern Territory. Mosman will retain a 25% working interest in EP 145, while Greenvale will earn a 75% interest. Greenvale will pay AUD160,000 cash within five days of completion, and fund the project's Year 3 and Year 4 Work Programs.
Chief Executive Officer Andy Carroll says: "We are pleased to have reached agreement with Greenvale who we see as a strong joint venture partner to work with in Australia. This agreement delivers on funding exploration and is validation of the helium, hydrogen and hydrocarbon potential of EP 145."
Current stock price: 0.028 pence, up 30% in London on Monday
12-month change: down 60%
By Emma Curzon, Alliance News reporter
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