Business
Investment and Operations Update
Investment and Operations Update.
About this update from Quantum Helium Limited
[{"type":"text","content":"\n \nRNS Number : 2686E Mosman Oil and Gas Limited 15 July 2016 \n\n \n15 July 2016\nMosman Oil and Gas Limited\n(\"Mosman\" or the \"Company\")\n \nInvestment and Operations Update\n \n \nMosman Oil and Gas Limited (AIM: MSMN) the New Zealand and Australia focussed oil exploration and development company, announces an update in respect to investments and current operational activities. This update will be reflected in an updated Corporate Presentation which will be published on the Company's website next week.\n \nInvestments\n \nMosman invested CAD$400,000 (AUD 425,000) in the TSX.V listed GEM International Resource Inc. (GEM) (announced 24 May 2016), which consists of 8 million shares at CAD 5 cents and 8 million two year CAD 15 cents non-transferrable options. Mosman notes that the share price of GEM is currently CAD 14.5 cents.\n \nThe Chairman of Mosman met with the officers of GEM in Hong Kong last month to discuss planning for exploration including bulk mining sampling and other matters in respect to GEM. Initial exploration will commence in July 2016 with planning and logistics now underway.\n \nHeavier equipment required for bulk sampling is expected onsite in the September quarter.\n \nGEM's website has recently been updated and can be found at: http://gemdiamondmining.com\n \nIn addition, on 4 July 2016, Mosman announced it had subscribed for two million shares in the TSX.V listed Hemisphere Energy Corporation (TSX.V HME), at a cost of CAD 19 cents a share being CAD$380,000 (AUD 0.394 M). HME is an existing oil producer with assets in south east Alberta, Canada, with average production in the first quarter 2016 of approximately 508 boe/d. Mosman notes that the share price of HME is currently CAD 21 cents.\n \nThe subscription is part of a larger 4.5 million shares placing by HME, which closed on 12 July 2016 raising CAD$1.9 million, with the funds being used for drilling and development to further increase production.\n \nHME's website can be found at: www.hemisphereenergy.ca\n \nBoth investments are subject to a short four month escrow which is usual in the TSX.V market. In addition to the investment cost, approximately AUD 0.1 m has been incurred on due diligence, travel and other costs in respect to the investments.\n \nOther opportunities...