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."
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12-month change: down 60%
By Emma Curzon, Alliance News reporter
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Mosman Oil Gas (MSMN)