Business
Issue of Equity and New Drilling Programme
Issue of Equity and New Drilling Programme.
About this update from Quantum Helium Limited
[{"type":"text","content":"\n \nRNS Number : 6606R Mosman Oil and Gas Limited 15 September 2014 \n \n\n \n \n15 September 2014\nMosman Oil and Gas Limited\n(\"Mosman\" or the \"Company\")\n \nIssue of Equity\nNew Drilling Programme to Commence\nTrident Energy Limited Update\n \nThe Directors of Mosman oil and Gas Limited (\"Mosman\" or the \"Company\") (AIM: MSMN) the New Zealand and Australia focussed oil exploration and development company are pleased to announce that the Company has raised £1,312,500 by way of the placing of 6,250,000 new ordinary shares in the capital of the Company (\"New Ordinary Shares\") at 21p per share (AUD 0.38 per share) (the \"Placing\") to fund the continuing rapid expansion of activities.\n \nThe Placing is conditional on, inter alia, the 6,250,000 New Ordinary Shares in the capital of the Company (the \"Placing Shares\") being admitted to trading on AIM.\n \nAn application has been made to the London Stock Exchange for the Placing Shares, which will rank pari passu with the Company's existing issued Ordinary Shares, to be admitted to trading and dealings are expected to commence at 8:00 a.m. (BST) on 22 September 2014.\n \nFollowing the issue of the Placing Shares the Company's total issued share capital will comprise 87,277,175 Ordinary Shares. In accordance with the Financial Conduct Authority Disclosure and Transparency Rules, the Company has 87,277,175 Ordinary Shares in issue, each share carrying the right to one vote. The Company does not hold any Ordinary Shares in Treasury.\n \nThe above figure of 87,277,175 Ordinary Shares may be used by Shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.\n \nDrilling\nDrilling is due to commence on Tuesday 16 September, on the Crestal-2 well at the Petroleum Creek Project in New Zealand. This planned programme of work will also include testing Crestal-2, Cross Roads-1 and Crestal-1 over the coming weeks.\n \nThe Crestal-2 well, is planned to test Eight Mile and Cobden Limestone formations known to contain oil in offset wells. The well is being drilled vertically from a newly constr...