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Mosman’s Carroll: NZ acquisition ‘great deal’ for company

Andy Carroll, technical director of Mosman Oil & Gas (LON:MSMN) says the acquisition of producing assets in New Zealand is a great piece of business for the company.

The project, which is costing Mosman NZ$10mln (roughly £4.2mln), and includes producing oil and gas fields and will be branded as the South Taranaki Energy Project (STEP).

It comprises almost 2bn cubic feet of gas and 1.4mln barrels of oil reserves, as well as 13.7bn cubic feet and 4.1mln barrels of resources.

Included in the assets are the production licences and Mosman expects to end up with between 40% and 70% of the project.

Quick facts: Mosman Oil And Gas Ltd

Price: 0.0877 GBX

AIM:MSMN
Market: AIM
Market Cap: £988.8 k
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Mosman Oil and Gas Ltd's John Barr updates on farm-out and Welch sale

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on 22/5/20

2 min read