17th Nov 2016 12:49
LONDON (Alliance News) - Mosman Oil & Gas PLC Thursday detailed progress at its operations in Australia and New Zealand, although reiterating that its activities have been "fiscally restrained" in 2016.
In Australia, the company owns and operates two granted permits in the Amadeus Basin, EP 145 and EP 156, and one application, EP 155.
In EP 145 fieldwork has recently recommenced to further assess hydrocarbon prospectivity, with expert Ian Dyson conducting work in the permit area.
Meanwhile, following on from its permit application for EPA 155, it has also held meetings with the Central Land Council of Alice Springs, part of the normal process prior to the grant of an exploration licence.
In New Zealand, and initial light detection and ranging, or LiDAR, survey completed in July confirmed the structural geological model at its Murchison PEP 57068 Block. Mosman said that, as a result of the LiDAR analysts completed to date, its technical team are now working on finalising preferred drill locations, and a schedule for board review and approval.
Mosman said that a site visit to the Petroleum Creek area confirmed there has been "no apparent adverse effect" following the recent significant earthquake in New Zealand.
Shares in Mosman were up 1.3% at 2.00 pence Thursday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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