14th Apr 2014 09:40
LONDON (Alliance News) - Mosman Oil and Gas Limited said Monday it has signed access agreements ahead of its drilling plans for the Crossroads-1 and Crestal-1 wells in June 2014.
The New Zealand and Australia-focused oil exploration and development company said it has signed agreements with Landcorp and a local farmer to access land in preparation for the commencement of drilling of Crossroads-1 and Crestal-1 wells in June 2014.
Landcorp is a corporation based in Wellington which owns and manages farms throughout NZ. The agreement with Landcorp also contemplates a second well on the property, said Mosman. Both landowners have agreed to leave in place some of the site modifications, such as new fences and gates, to the benefit of all parties.
"This is the next milestone in preparation for drilling in June 2014 and we are pleased to reach mutual agreement with two key stakeholders in our Petroleum Creek project," said John Barr, Executive Chairman of Mosman.
The Petroleum Creek Project is an onshore oil and gas project in New Zealand and the Officer Basin Project in Western Australia.
Shares in Mosman were trading 2.22% higher at 6.9 pence per share Monday morning.
By Alice Attwood; [email protected]; @AliceAtAlliance
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