Further Update on Sale of Welch Project

3 July 2020

Mosman Oil and Gas Limited

("Mosman" or the "Company")

Further Update on Sale of Welch Project

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, provides an update on the sale of the Welch Project in Texas.

Mosman entered into a contract for the sale of Welch with the US based Eagle Natural Resources LLC for US$300,000 (cA$460,000). The purchaser has previously paid a Non-refundable deposit totalling US$60,000 (cA$85,000). 

The purchaser has again sought and Mosman has granted an additional 14 day extension to the settlement on the basis that the Non-refundable deposit is increased to US$90,000 (cA$130,000) and this increased deposit has now been received.

Full settlement of the balance of US$210,000 (cA$300,000) is now expected to occur on 17 July 2020. 

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.

Enquiries:

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