Update on Sale of Welch Project

RNS Number : 4867Q

Mosman Oil and Gas Limited

19 June 2020

 

19 June 2020

Mosman Oil and Gas Limited

("Mosman" or the "Company")

 Update on Sale of Welch Project

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, provides an update on the sale of the Welch Project in Texas.

Mosman entered into a contract for the sale of Welch with the US based Eagle Natural Resources LLC for US$300,000 (cA$460,000) and an initial non-refundable deposit of US$30,000 was paid, as announced on 20 May 2020.

The purchaser has sought and Mosman has granted a 14 day extension to the settlement on the basis that the Non-refundable deposit is increased to US$60,000 (cA$85,000) and this increased deposit has now been received.

Full settlement of the balance is now expected to occur on 3 July 2020.  

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Enquiries:

Mosman Oil & Gas Limited John W Barr, Executive Chairman Andy Carroll, Technical Director [e-mail] [e-mail]	NOMAD and Joint Broker SP Angel Corporate Finance LLP Stuart Gledhill / Richard Hail / Soltan Tagiev [phone]
Alma PR Justine James [phone] [phone] [e-mail]	Joint Broker Monecor (London) Ltd trading as ETX Capital Thomas Smith [phone]

Updates on the Company's activities are regularly posted on its website: www.mosmanoilandgas.com  

 

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