Business
Corporate Review
Corporate Review.
About this update from Quantum Helium Limited
[{"type":"text","content":"\n \n \n 28 March 2023\n \n \n \n Mosman Oil and Gas Limited\n \n \n \n (\"Mosman\" or the \"Company\")\n \n \n \n \n \n \n \n \n \n Corporate Review\n \n \n \n \n \n Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development, and production company, advises that it is currently undertaking a review of its corporate structure with the objective to maximise the value of its assets. \n \n \n Background\n \n \n \n \n Mosman has two distinct asset groups: the USA production and development assets, and exploration assets in Central Australia.\n \n With the recent success of the Cinnabar-1 well and the new Reserve Report for the Cinnabar project, it is appropriate to consider the best way to commercialise these reserves.\n \n In Australia, EP 145 is owned by Trident Energy Pty Ltd (\"Trident\") and EP(A) 155 is owned by OilCo Pty Ltd (\"OilCo\") which are both wholly owned subsidiaries of Mosman. EP(A) 155 is subject to a farm out arrangement with Westmarket Oil & Gas Pty Ltd which is now a wholly owned subsidiary of Georgina Energy plc (\"Georgina\"). Mosman understands Georgina is seeking funding at present and the Company awaits developments in this regard.\n \n Since the publication by Mosman of the Prospective Resource for EP 145 and given the international focus on Helium and Hydrogen, Mosman has received several enquiries in respect of that permit. Mosman has also received a farm-in proposal, which is encouraging and is being evaluated. In addition, the Chinese group which had signed a Memorandum of Understanding in the pre COVID era has scheduled a site visit and commercial discussions in mid-April 2023. It is currently impossible to determine the potential outcome of those discussions.\n \n \n The opportunity\n \n \n \n \n It is clear to the Board of Mosman that the value of both groups of assets in its portfolio is not reflected in the market capitalisation of Mosman. The opportunity is to determine the best way forward to maximise the value of these assets for Mosman and its shareholders.\n \n \n \n \n Review Process\n \n \n The Board of Mosman has commenced a corporate review to evaluate the optimal next steps for Mosman and its shareholders.\n \n Several matters will be considered including the possibility of s...