Business
Investment in Hemisphere Energy Corporation
Investment in Hemisphere Energy Corporation.
About this update from Quantum Helium Limited
[{"type":"text","content":"\n \nRNS Number : 0504D Mosman Oil and Gas Limited 01 July 2016 \n\n \n1 July 2016\nMosman Oil and Gas Limited\n(\"Mosman\" or the \"Company\")\n \nInvestment in Hemisphere Energy Corporation (TSX.V HME),\n \nMosman Oil and Gas (AIM: MSMN), the New Zealand and Australia focused oil exploration and development company announces that it has made a CAD$380,000 (AUD 394,000) cash investment in the TSX.V listed; Hemisphere Energy Corporation. (HME), subscribing for two million shares at a price of CAD 19 cents per share. \n \nHME is an existing oil producer with assets in south east Alberta, USA, with average production in the first quarter of 2016 of approximately 508 boe/d. HME's closing price as at 30 June 2016 was CAD 22.5 cents.\n \nThe subscription is part of a larger 8 million share placing, with the funds to be used for drilling to further increase production. Following the transaction Mosman's holding in HME will equate to approximately 2.4% of the enlarged issued share capital.\n \nCommenting on the investment, John W Barr, Chairman of Mosman said: \"The investment in HME is strategic as the Company is expected to be rerated from the planned drilling and the potential lift in commodity prices.\"\n \nAbout HME\n \nHemisphere Energy Corporation (TSX.V HME), HME is an existing oil producer with assets in south east Alberta, USA, with average production in the first quarter of 2016 of approximately 508 boe/d.\n \nHME reported an audited net loss of CAD$8,310,831 for the year ended 31 December 2015 and audited net assets of CAD$22,712,832 as at 31 December 2015.\n \nFurther information can be found on HME's website which can be found at http://www.hemispherenergy.ca\n \n \n \nEnquiries\n\n\n\n\nMosman Oil & Gas Limited\nJohn W Barr, Executive Chairman\nAndy Carroll, Technical Director\[email protected]\[email protected]\n \n\n\nNOMAD and Broker\nSP Angel Corporate Finance LLP\nStuart Gledhill / Richard Hail\n+44 (0) 20 3470 0470\n \n\n\n\n\nGable Communications Limited\nJustine James / John Bick\n+44 (0) 20 7193 7463\[email protected]\n \n\n\n \n\n\n\n\nUpdates on the Company's activities are regularly posted on its website\nwww.mosmanoilandgas.com\n \n \nAbout Mosman\n \nMosman ...