29 April 2014
Mosman awards drilling contract
Aorere Resources Limited holds approximately 16.7% of AIM listed Mosman Oil and Gas Limited.
This shareholding has a present market value of NZD 2 million and represents 24.5% in value of the Aorere portfolio. Mosman released the following announcement in London last night.
Aorere Resources Ltd
Drilling Contract Awarded at Petroleum Creek, NZ
Mosman Oil and Gas Limited (AIM: MSMN), the New Zealand and Australia focussed oil exploration and development company, is pleased to provide a further operations update on its onshore Petroleum Creek Project in the South Island of New Zealand.
Drilling Contract Awarded
Petroleum Creek Limited (“PCL”), Mosman’s wholly owned subsidiary, has awarded the drilling contract for the June 2014 drilling programme to Drill Force New Zealand Ltd (“Drill Force”), a specialist drilling services company.
The programme, which comprises two wells plus two contingent wells, includes the planned Crestal-1 and Crossroads-1 wells as previously announced.
Drill Force management have a combined 100 year+ drilling industry experience, along with a drilling heritage of five generations and the equipment is ideal for Mosman’s drilling objectives.
John W Barr, Executive Chairman of Mosman commented: “We have a strong relationship with Drillforce, and their experience is ideal for the planned wells. The imminent drilling programme is a significant milestone for Mosman and we are looking forward to our first discovery in the region.”