1st Jul 2019 09:59
(Alliance News) - Shares in Mosman Oil & Gas Ltd were up Monday as it sold its 50% interest in the Strawn project production facilities and leases in Texas to Eagle Natural Resources LLC.
Shares in the oil & gas company were 16% higher at 0.307 pence on Monday.
Following the USD75,000 sale, Mosman will cease to be the operator of the project. Proceeds will be used for general working capital purposes.
"Now that we have even more production and development opportunities, Strawn is no longer deemed a material asset and we see more value in focussing our attention on our other projects," said Chair John Barr.
Related Shares:
Mosman Oil & Gas