Mosman Oil and Gas Limited (AIM: MSMN), an oil exploration, development, and production firm, refers to the announcements made on March 28 and April 19, 2023.
Following these, Mosman’s Board of Directors recently convened to discuss matters concerning the Corporate Review and provide an update on its progress.
The Board has decided that the most suitable approach for the Australian assets, including the EP 145 permit and the EP(A) 155 exploration permit application in the Amadeus Basin in Central Australia, is to pursue an independent stock market listing in London.
The Company is advancing positive commercial negotiations with two Chinese-based companies regarding potential future helium production off-take arrangements for EP 145.
Additionally, a crucial decision was made to appoint a specialist advisor for pursuing a separate stock market listing for the Australian assets. As a result, Mosman is engaging with various corporate advisory firms to assist with listing the Australian assets in London.
The necessary parties to complete the listing process, such as lawyers, accountants, auditors, brokers, and a competent person (CPR), will be appointed shortly. Mosman has already received expressions of interest from several parties, including those interested in participating in the proposed fundraising.
The Company aims to finalize the separate listing of the Australian assets in CYQ4 2023.
David Minchin, a highly experienced helium exploration geologist, continues to collaborate with the team to achieve the best possible outcome as they work toward implementing the corporate review strategy.
Mosman’s Chairman, John W Barr, stated: “By combining David Minchin’s knowledge with the experience of the Mosman Board, we hope to achieve a separate stock market listing for the Australian assets, which we believe will maximize value for shareholders in the best interests of the Company.”
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