Business
Appointment of Joint Broker and Corporate Update
Appointment of Joint Broker and Corporate Update.
About this update from Quantum Helium Limited
[{"type":"text","content":"\n\n \n31 May 2023\nMosman Oil and Gas Limited\n(\"Mosman\" or the \"Company\")\n \nAppointment of Joint Broker and Corporate Review Update\n \nMosman Oil and Gas Limited (AIM: MSMN), the oil exploration, development, and production company, is pleased to announce an update on its ongoing corporate review and the appointment of CMC Markets UK Plc (\"CMC\") as joint broker.\nJoint Broker\nMosman today announces the appointment of CMC Markets UK Plc (\"CMC\") as an additional corporate broker to the Company. CMC will act as joint broker together with Mosman's existing broker SP Angel Corporate Finance LLP.\n \nCorporate Review\n \nOn 4 May 2023, Mosman announced that its preferred route forward to building shareholder value was to unlock value in its exploration portfolio by pursuing a separate stock market listing in London for its Australian assets, the EP 145 permit and the EP(A) 155 exploration permit application in the Amadeus Basin in Central Australia. The Board has been active in taking a number of steps in furtherance of this goal. The eventual transaction remains subject to shareholder approval in due course.\n \nMosman has appointed SRK (Australia) (\"SRK\") to undertake an independent review of EP 145 and EPA 155 (which is subject to a farm-in agreement with Georgina Energy PLC). SRK's first task is the preparation of a valuation and status reports. Subsequently SRK maybe further engaged to prepare a Competent Persons Report.\n \nMosman advises that it is in the process of will shortly modify the corporate structure of its subsidiaries to facilitate the IPO of the Australian assets. Previously, Mosman owned all the shares in Trident Energy Pty Ltd (\"Trident\") (EP 145) and OilCo Pty Ltd (\"OilCo\") (EPA 155), and both subsidiaries were funded by loans from Mosman. Mosman has recently formed a new wholly owned subsidiary, Adagio Resources Ltd (\"Adagio\"), and the ownership of both Trident and OilCo will be transferred to the new subsidiary (Adagio). The change does not have any effect on Mosman's beneficial ownership or operations.\n \nSeveral other matters remain under consideration including tax, structuring, potential share lock up periods and the potential distribution or sale of the shares in the Company's subsidiaries to existing shareholders.\n \nMosman is also close...