Mosman Oil Gas Share News (MSMN)

LONDON (Alliance News) - Mosman Oil and Gas Ltd said on Wednesday it has seen excellent results from reprocessed seismic data from exploration permit 145 in the Amadeus Basin in the Northern Territory of Australia.

Seismic reprocessing has revealed the shallow multi-payzone anticline as well as indications of a sale diapir, and deeper information that could allow Mosman to link the permit to the large Dukas prospect which will be drilling by Santos in the Southern Amadeus Basin in the next 12 months.

In addition, the Northern Territory government has granted approval of Mosman's request to extend the time frame of the permit.

The work program for the permit is now the acquisition and processing 100 kilometres of 2D seismic by August 21, 2019, drilling one well by August 21, 2020, and the second well by the same date in 2021.

"The recent work and the Permit extension at EP145 are good news for Mosman. In addition to the US production assets, Mosman still continues to advance its other permits in accordance with its stated strategy," said Chairman John Barr.

Shares in Mosman Oil and Gas were up 5.5% at 0.79 pence on Wednesday.