Issue of Equity - Exercise of Options

RNS Number : 2245M

Mosman Oil and Gas Limited

14 July 2014

 



14 July 2014

Mosman Oil and Gas Limited

("Mosman" or the "Company")

Exercise of Options

The Directors of Mosman oil and Gas Limited ("Mosman" or the "Company") (AIM: MSMN) the New Zealand and Australia focussed oil exploration and development company announces that on 11 July  2014 a total of 1,100,000 Options were exercised. With respect to 1,000,000 Options, each option entitles the holder to subscribe for one new ordinary share in the share capital of the Company at a price of A$0.20 per share. With respect to 100,000 options, each option entitles the holder to subscribe for one new ordinary share in the share capital of the Company at a price of A$0.15 per share (together the "Option Shares").

The funds raised will be used for working capital purposes.

The exercise of the Option is conditional on; inter alia, the 1,100,000 Option Shares in the capital of the Company being admitted to trading on AIM.

An application will be made to the London Stock Exchange for the Option Shares, which will rank pari passu with the Company's existing issued Ordinary Shares, to be admitted to trading and dealings are expected to commence at 8:00 a.m. (BST) on Monday 21 July 2014.

Following the issue of the Option Shares the Company's total issued share capital will comprise 79,027,175 Ordinary Shares. In accordance with the Financial Services Authority Disclosure and Transparency Rules, the Company has 79,027,175 Ordinary Shares in issue, each share carrying the right to one vote. The Company does not hold any Ordinary Shares in Treasury.

The above figure of 79,027,175 Ordinary Shares may be used by Shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Service Authority's Disclosure and Transparency Rules.

Enquiries:

Mosman Oil & Gas Limited John W Barr, Executive Chairman Andy Carroll, Technical Director [e-mail] [e-mail]	SI Capital Limited Nick Emerson/Andy Thacker [phone]
Gable Communications Justine James/John Bick [phone] [e-mail]	ZAI Corporate Finance Limited Tom Price/John Simpson [phone]

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 the Cross Roads-1 well was declared an Oil Discovery in June 2014.

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.

 

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