Last checked at 8 Jul 2014 08:35
8 July 2014
Mosman Oil and Gas Limited
("Mosman" or the "Company")
Petroleum Creek Drilling Update
Mosman Oil & Gas Limited (AIM: MSMN), the New Zealand and Australia focussed oil exploration and development company, announces a further update on drilling at Crestal-1 at its Petroleum Creek Project.
As drilling continues at Crestal-1, oil shows have been identified throughout the Cobden Limestone from 158m to 173m.
Flow testing is planned for later in 2014 on the Cobden Limestone interval and additional seismic data will be acquired to assist in mapping the extent of the accumulation and drilling locations for appraisal drilling.
John W Barr, Executive Chairman of Mosman commented: "It is important to put our progress into context as this positive news is the first step of the drilling programme which will be followed by the appraisal process. The next stage of which will be to carry out flow tests, additional seismic acquisition and processing work, and then complete the economic modelling required to determine commercial viability of our wells, which as previously announced is anticipated to take several months."
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.
Enquiries
Mosman Oil & Gas Limited John W Barr, Executive Chairman Andy Carroll, Technical Director jwbarr@mosmanoilandgas.com acarroll@mosmanoilandgas.com
| SI Capital Limited Nick Emerson/Andy Thacker +44 (0) 1483 413500 |
Gable Communications Justine James/John Bick +44 (0) 20 7193 7463 mosman@gablecommunications.com
| ZAI Corporate Finance Limited Tom Price/John Simpson +44 (0) 20 7060 2220 |
Updates on the Company's activities are regularly posted on its website www.mosmanoilandgas.com
About Mosman
Mosman (AIM: MSMN) is a New Zealand and Australia focussed oil exploration and development company, with the Petroleum Creek Project, an onshore oil and gas projects in New Zealand and in the Officer Basin Project in Western Australia.
Petroleum Creek Project, New Zealand
Mosman's immediate focus is on the Petroleum Creek Project a 143.6 sq. km low cost onshore exploration project located near Greymouth on the South Island in the southern extension of the proven Taranaki oil system. The project has a Mean Unrisked Recoverable OIIP of 26.6 MmStb, and recently the Cross Roads-1 well was declared an Oil Discovery.
Officer Basin Project, Australia
Mosman has a 25% investment in the Officer Basin Project, a 22,527 sq. km large land holding with significant exploration potential, which lies in one of the more explored parts of the Basin with road access. The project area is in the Western Australian part of the Officer Basin and offers both conventional and unconventional potential with hydrocarbon shows reported and all elements of a petroleum system are present.