RNS Number : 5087E
Mosman Oil and Gas Limited
10 February 2015
 



10 February 2015

Mosman Oil and Gas Limited

 

Update on Takeover Bid for MEO

 

The Directors of Mosman Oil and Gas Limited ("Mosman" or the "Company") (AIM: MSMN) refer to the announcement made by the Company on 28 January 2015 titled "Proposed acquisition of MEO Australia Limited - Release of Bidder's Statement" in which the Company announced that it had lodged with the Australian Securities & Investments Commission ("ASIC") the bidder's statement ("Original Bidder's Statement") in relation to an offer announced by Mosman on 11 December 2014 to acquire 100% of the fully paid ordinary shares in the issued capital of the ASX listed MEO Australia Limited ("MEO") ("Offer").

 

A copy of the Original Bidder's Statement was provided to MEO and ASX on 28 January 2015. 

 

A replacement bidder's statement in respect of the Offer which replaces the Original Bidder's Statement ("Replacement Bidder's Statement") was lodged with ASIC today.

 

Click here for the link to the full Replacement Bidder's Statement: http://mosmanoilandgas.com/sites/mosmanoilandgas.com/files/files/Replacement_Bidders_Statement_100215_1.pdf

 

 

A detailed summary of the Offer was provided on 28 January 2015 with the release of the Bidders Statement. There has been no material change to the base information provided in that summary save for as a consequence of the share price movements of Mosman and MEO and the release of Mosman's half year results as at 31 December 2014.  This RNS announcement should not be utilised by the shareholders of MEO in making any decision on whether or not to accept or decline the Offer and is solely being released for AIM disclosure purposes.  Shareholders should read the Replacement Bidder's Statement in its entirety before making any decision on whether to accept or reject the Offer, and should consult their financial or other professional advisers if they are in doubt as to how to deal with the Replacement Bidder's Statement.

 

Section 631(1)(b) of the Australian Corporations Act 2001 (Cth) ("Corporations Act") requires that the Offer be made within two months after the Offer is publicly announced i.e. by 11 February 2015. 

 

ASIC has granted a modification of section 631(1)(b) of the Corporations Act to allow Mosman to make the Offer (i.e. to despatch the Replacement Bidder's Statement) within two months and 14 days after the Offer was publicly announced i.e. by 25 February 2015.

 

Enquiries:

 

Mosman Oil & Gas Limited

John W Barr, Executive Chairman

Andy Carroll, Technical Director

jwbarr@mosmanoilandgas.com

acarroll@mosmanoilandgas.com

 

SI Capital Limited

Nick Emerson/Andy Thacker

+44 (0) 1483 413500

Gable Communications Limited

John Bick

+44 (0) 20 7193 7463

mosman@gablecommunications.com

 

ZAI Corporate Finance Limited

Tom Price/John Simpson

+44 (0) 20 7060 2220

 

Updates on the Company's activities are regularly posted on its website www.mosmanoilandgas.com

 

About Mosman

Mosman (AIM: MSMN) is an Australia and New Zealand focused oil exploration and development company with a strategy to build a sustainable mid-tier oil and gas business by acquisition and organic growth.

 

Currently, Mosman has a total of ten permits or accepted permit applications in New Zealand and Australia.

 

Petroleum Creek Project, New Zealand

Mosman owns 100% of permit PEP 38526, the Petroleum Creek Project, which is a 143 sq. km low cost onshore exploration project located near Greymouth on the South Island in the southern extension of the proven Taranaki oil system.

 

Taramakau, Murchison and East Coast Permits (New Zealand)

These permits were granted to Mosman on 9 December 2014 as part of the 2014 Block Offer, a sixteen-fold increase in the exploration area in NZ from 143 sq km to 2,317 sq km.

 

Officer Basin Project, Australia (Application)

Mosman has a 25% investment in the Officer Basin Project, a 22,527 sq. km large land holding with significant exploration potential, which lies in one of the more explored parts of the Basin with road access. The project area is in the Western Australian part of the Officer Basin and offers both conventional and unconventional potential with hydrocarbon shows reported and all elements of a petroleum system are present.

 

Amadeus Basin Projects, Australia

Mosman owns 100% of two granted permits and one application in the Amadeus Basin in Central Australia which total of 5,458 sq. km. The Amadeus Basin is considered one of the most prospective onshore areas in the Northern Territory of Australia for both conventional and unconventional oil and gas, and hosts the producing Mereenie, Palm Valley and Surprise fields.

 

Otway Basin Project, Australia

Mosman owns 30% of VIC/P62 in the Otway Basin. The permit was recently renewed and is in relatively shallow water. The 70% permit holder funded a 3D seismic survey in 2013. The results of the 3D seismic survey are now being integrated into a geological model to allow identification and ranking of drilling targets. Within the Otway Basin there is commercial production both onshore and offshore.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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