25 March 2019

Mosman Oil and Gas Limited

("Mosman" or the "Company")

Stanley Project Update

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, advises the following information in respect to current operations at Stanley.

The Stanley-2 well was spudded on 19 March and Mosman is advised that as at 24 March the well was proceeding as expected. Surface casing has been set and drilling is now at a depth of 3713 feet with a target depth of circa 5100 feet. Drilling is expected to complete in a few days, followed by well logging, running completion casing and then test producing selected zones. Meaningful results may be available in 10-12 days.

The Stanley-1 well was recompleted recently in accordance with the planned operations. Since the on-site operations focus (both wells are on the same well pad area) is currently on drilling Stanley-2, the Stanley-1 recompletion is not the immediate focus for the operator, and thus results will not be available until after drilling and completion of Stanley-2.

John W Barr, Chairman, said: "It is pleasing that both operations are proceeding. Results will be evaluated, summarised and made available to shareholders as soon as practical."

Competent Person's Statement

The information contained in this announcement has been reviewed and approved by Andy Carroll, Technical Director for Mosman, who has over 35 years of relevant experience in the oil industry. Mr. Carroll is a member of the Society of Petroleum Engineers.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside

information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

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