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Baja Strategic Alliance

Mosman has agreed a Strategic Alliance with a privately owned, Texas based oil and gas company, Baja Oil & Gas, LLC for the exploitation and development of oil and gas reserves located onshore Texas, USA. Baja owns an existing inventory of oil and gas development projects and is continuing to add projects to the inventory. Under the umbrella of the Strategic Alliance, Mosman will participate in the evaluation of future projects and will have the ability to invest in the development of existing projects.

The first project agreed upon is to drill the Stanley well located in the Livingston Oilfield, Polk County, Texas. The well was spudded on 19 July 2018 with the primary objective of producing oil from the Eocene aged Wilcox sands found productive in the area.

The Stanley Development Project is supported by Baja’s interpretation of 3D seismic data, integrated with substantial sub-surface well control, and legacy production information.

Mosman has acquired a 16.5% Working Interest by agreeing to pay 22% of the cost of the well, and some prior costs. Baja and other parties have committed to paying the remainder of the costs of the well.