29 September 2023

Mosman Oil and Gas Limited

("Mosman" or the "Company")

 

Board Update

 

Mosman Oil and Gas Limited (AIM: MSMN) the oil, gas, helium and hydrogen exploration, development, and production company, is pleased to announce the appointment of Carl Dumbrell as an independent Non Executive Director, joining the Board with immediate effect.

 

Carl is a Chartered Accountant in both Australia and the UK who brings over 20 years' experience in taxation and assurance services to the board, working with quoted companies on both the LSE and ASX, predominantly in energy and resources.

 

He is currently a Partner in CDTL, a Sydney based accounting firm in addition to being Director and Company Secretary of ASX listed Emperor Energy Limited (ASX:EMP), a Director of Herencia Resources Plc and Chairman of the Kennedy Foundation, a not for profit organisation dedicated to excellence in Australian journalism.

 

Previously Carl was Partner, Global Head of Mining and Natural Resources at Mazars LLP in London and a Director of ASX listed Oil Basins Limited.

 

Board and Management team

 

The Board has also appointed Nigel Harvey as Chair, effective 1 October 2023, in an independent on executive capacity with Founding Executive Director Andy Carroll now leading the business as CEO, formerly Technical Director, and Carl Dumbrell as Independent Non Executive Director.  The management team continues to include Jarrod White (CFO), Howard McLaughlin (US Operations Manager) leading the group's oil and gas activities in Texas, consultant geologist Dr Julie Daws working on the group's helium hydrogen and hydrocarbon exploration in the Northern Territory, and Nicholas Marshall (Company Secretary).  Sydney based firm Traverse Accountants provide financial, company secretarial and accounting services.

 

The Board wishes to acknowledge and thank the departing Chair and founding Director John Barr for his many years of service to the Company and wishes him well with his future endeavours. 

 

The Board also notes that Mr Carroll remains on his current flexible executive services contract, that its new Chair is non executive and that other costs have been optimised as it focusses on regrouping and rebuilding the Company's operations as self sustainably as practicable.

Commenting on the appointment, Andy Carroll, CEO said: "We are pleased to welcome Carl, who brings significant expertise in finance and capital markets as well as resources to the board, and we look forward to working with him as Mosman continues to build on its strategy to increase USA production and keep high potential upside helium, hydrogen and hydrocarbon exploration in Australia."

Carl Dumbrell added "I'm very much looking forward to working with Andy, Nigel and the Mosman team."

AIM Disclosures

Carl Francis Dumbrell, aged 47, currently holds or has held the following directorships and partnerships in the last five years:

Mr Dumbrell currently holds no ordinary shares or options in the Company.

Other than as provided in this announcement, no other disclosures in relation to Mr Dumbrell are required under Rule 17 or Schedule 2(g) of the AIM Rules for Companies.

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service ('RIS'), this information is now considered to be in the public domain.

 

Enquiries:

 

 

Updates on the Company's activities are regularly posted on its website:

www.mosmanoilandgas.com

 

 

Notes to editors

Mosman (AIM: MSMN) is an oil and gas exploration, development, and production company with projects in the US and helium and hydrogen exploration in Australia. Mosman's strategic objectives remain consistent: to identify opportunities which will provide operating cash flow and have development upside, in conjunction with progressing exploration of its existing exploration permit and permit application. The Company has several projects in Texas in the US  and exploration projects in the Amadeus Basin in Central Australia.