Stanley-2 Drilling Update

1 April 2019

Mosman Oil and Gas Limited

 ("Mosman" or the "Company")

Stanley-2 Drilling Update

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, advises that the Stanley-2 well in Texas has completed drilling at 5,000 feet. Next operations will be electric logging and running casing. The well encountered the pre-drill target of Eocene aged sands (which includes the Yegua sands). A period of evaluation will now commence, prior to bringing the well on production.

Stanley-2 is part of the Strategic Alliance with the privately-owned Baja Oil & Gas, LLC. Stanley-2 is designed to penetrate several Eocene sand targets up-dip from Stanley-1, to optimise the oil production and recovery from these zones identified on 3D seismic and penetrated by Stanley-1.

Competent Person's Statement

The information contained in this announcement has been reviewed and approved by Andy Carroll, Technical Director for Mosman, who has over 35 years of relevant experience in the oil industry. Mr. Carroll is a member of the Society of Petroleum Engineers.

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:

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