Dear Aorere Resources shareholder,
The following announcement was filed with NZX a few minutes ago and will be released before the market opens on Monday.
Aorere Resources Limited
Cell: +64 21 558 185
7 June 2014
Mosman spuds first well at Kotuku prospect
Aorere Resources Limited holds approximately 15.8% of AIM listed Mosman Oil and Gas Limited. This shareholding has a present market value of NZD 2.4 million and represents 34% (at market value) of the Aorere portfolio. Mosman released the following announcement in London last night.
Chris Castle, Managing Director
Aorere Resources Ltd
6 June 2014
Mosman Oil and Gas Limited
("Mosman" or the "Company")
Petroleum Creek Drilling Commences
Mosman Oil & Gas (AIM: MSMN), the New Zealand and Australia focused oil exploration and development company, announces that drilling has started (spudded) today, on the first of its three planned wells in the 2014 drilling programme, at its Petroleum Creek Project in New Zealand.
On the first well, Cross Roads-1, Mosman plans to test Eight Mile and Cobden Limestone formations known to contain oil in offset wells. The well is being drilled vertically from a newly constructed well pad to an expected total depth of 400 m.
Mosman plans to release weekly drilling updates over the coming weeks.
John W Barr, Executive Chairman of Mosman commented: "We are pleased to commence drilling at Petroleum Creek so soon after the March 2014 IPO. The Board will meet onsite next week to review progress and also to meet with local contractors and stakeholders who have greatly assisted Mosman achieving this first milestone."