Aorere Resources Net Assets at 10 July 2014
/To read this NZX Announcement - click here
Aorere Resources Net Assets at 8 July 2014
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Surge in Mosman price increases Aorere NTA/share to 2.25 cents
/Aorere Resources Limited holds approximately 13.1% of this AIM listed company, and will hold 12.3% after the recently announced Trident acquisition is completed.
Our Mosman shareholding now has a present market value of NZD 8.2 million, based on the present market price of 40.75 pence. As a result the undiluted net asset backing of an Aorere share (including all significant portfolio assets at market value) is now 2.25 cents.
Aorere’s present market value at the most recent trade of 0.8 cent per share is NZD 4.3 million or only 35.6% of the present net asset backing of $12.2 million.
The table below details the present market value of the various components of the portfolio.
Regards,
Chris Castle, Managing Director
Aorere Resources Ltd
Takaka, 8 July 2014
Aorere Resources advises revised net assets
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Mosman advises proposed acquisition of Trident Energy
/Dear Aorere Resources shareholder,
This announcement has just been released to NZX.
Regards,
Chris Castle
Managing Director
Aorere Resources Limited
Cell: +64 21 558 185
2 July 2014
NZX Announcement
Mosman advises proposed acquisition of Trident Energy
Aorere Resources Limited holds approximately 13.1% of this AIM listed company, and will hold 12.3% after the Trident acquisition is completed.
Mosman released the following announcement in London today.
Our Mosman shareholding now has a present market value of NZD 5.3 million, based on the present market price of 26.6 pence. As a result the undiluted net asset backing of an Aorere share (including all significant portfolio assets at market value) is now 1.73 cents. 57% of that value is represented by the Mosman shareholding.
Interestingly Aorere’s present market value at the most recent trade of 0.8 cent per share is NZD 5.4 million.
Regards,
Chris Castle, Managing Director
Aorere Resources Ltd
London, 2 July 2014
2 July 2014
Mosman Oil and Gas Limited
Acquisition of Trident Energy Limited
Mosman Oil and Gas Limited (AIM: MSMN), the New Zealand and Australia focused oil exploration and development company, has entered into a binding Bid Implementation Agreement ("BIA") pursuant to which it is proposing to acquire all of the issued shares in Trident Energy Limited ("Trident"), an Australian unlisted public company with onshore and offshore oil interests in Australia ("Acquisition").
Acquisition Highlights
· The Acquisition will complement and expand Mosman's regional exploration portfolio.
· Trident has three exploration assets located in the highly prospective Canning, Amadeus and Otway basins, providing Mosman with exposure to both conventional and unconventional oil and gas opportunities:
- VIC/P62 in the Otway Basin
- EPA 145 in the Amadeus Basin
- EP 478 in the Canning Basin
· The total consideration comprises circa £1.6m (based on the current share price of 23p and an exchange rate of £1:A$1.813) payable in three tranches:
- The issue of 2,892,978 Mosman Shares to acquire 100% of the issued share capital of Trident
- Settlement of outstanding loans and directors' fees by the issue of 2,147,427 Ordinary Shares (the "Loan Shares")
- Settlement of outstanding creditors by the issue of up to 308,113 Ordinary Shares (the "Creditor Shares") and
- An agreement to provide a loan of up to A$750,000 to Trident
The Mosman board believes this represents a low entry price for a portfolio of three permits in these highly sought after locations, increasing the portfolio from two to five permits with minimal dilution
John W Barr, Executive Chairman of Mosman commented: "The Trident acquisition complements Mosman's existing Petroleum Creek and Officer Basin projects, ensuring that Mosman has a diversified asset portfolio in five prospective hydrocarbon regions.
"Exploration of the 5 permits is fully funded and we believe the enlarged portfolio will deliver operational activity and exploration milestones in the coming months and years.
"As we stated at IPO in March, Mosman's strategy is to develop the business organically and by acquisition, which we are delivering both in only four months since IPO, having achieved the recent oil discovery at Cross Roads-1 and now our first acquisition."
Enquiries:
Mosman Oil & Gas Limited
John W Barr, Executive Chairman
Andy Carroll, Technical Director
SI Capital Limited
Nick Emerson/Andy Thacker
+44 (0) 1483 413500
Gable Communications
Justine James/John Bick
+44 (0) 20 7193 7463
mosman@gablecommunications.com
ZAI Corporate Finance Limited
Tom Price/John Simpson
+44 (0) 20 7060 2220
Mosman advises proposed acquisition of Trident Energy
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Mosman provides weekly update
/Dear Aorere Resources shareholder,
This announcement has just been filed with NZX and will be released before the market opens this morning.
Regards
Chris Castle
Managing Director
Aorere Resources Limited
Cell: +64 21 558 185
30 June 2014
NZX Announcement
Mosman provides weekly update
Aorere Resources Limited now holds approximately 13.1% of this AIM listed company.
Mosman released the following announcement in London today.
Our Mosman shareholding now has a present market value of NZD 4.5 million, based on the present market price of 22.5 pence. As a result the undiluted net asset backing of an Aorere share (including all significant portfolio assets at market value) is now 1.54 cents. 53% of that value is represented by the Mosman shareholding.
Regards,
Chris Castle, Managing Director
Aorere Resources Ltd
London, 30 June 2014
30 June 2014
Mosman Oil and Gas Limited
Petroleum Creek Project Weekly Update
Mosman Oil & Gas (AIM: MSMN), the New Zealand and Australia focused oil exploration and development company, advises on the latest progress on its drilling programme at the Petroleum Creek Project, New Zealand.
The Drill Force Rig #1 crew is moving the rig to the Crestal-1 location and drilling on this well will start in a few days. Anticipated activity this week is to drill to total depth of 250 m, complete wireline logs, and then suspend the well for future testing.
Mosman has started to acquire the additional seismic required to rank the following prospects, to select the best locations in order to drill a further four wells during 2014: Crestal-2, Blair Road, Big Rock, Killeen, Molloy's Creek, Bells Gully, Pipers Creek and Onganui (a new prospect resulting from further SRK work on the seismic data base).
Geological and geophysical work continues. This foundation work is essential to ensure the sensible exploration of the permit. Seismic data obtained in the next few months will be incorporated in models, and decisions on which wells to drill next will be made in October, with the next phase of drilling expected to commence in November 2014.
Now that the Company has drilling information from the Cross Roads-1 Oil Discovery, including identified discovery zones in the Eight Mile and the visible oil in the Cobden limestone, Mosman is planning an extended well test to flow both the Cobden and Eight Mile formations. Whilst there is visible oil in the Cobden limestone core at Cross Roads-1, the wireline logs are not conclusive, and Mosman has determined that a flow test is required to determine whether or not the Cobden limestone oil qualifies as an additional discovery.
Mosman has started to contract, design, procure and deliver testing equipment and personnel, in order to undertake extended flow periods of up to 60 days on each test zone to start as soon as is practical. The design will be applicable to testing the Cross Roads-1 well and any additional discoveries made. The testing equipment will be designed to move from one location to the next to test wells in an orderly sequence.
John W Barr, Executive Chairman of Mosman commented: "Operational decisions continue to drive Mosman's activities at Petroleum Creek as we move from exploration to appraisal, and hopefully eventually production. In Australia the team has been working hard on proposed acquisitions which will significantly increase the future operations of the Company."
Investor presentations
Andy Carroll and John W Barr will be in London presenting at the Oil Barrel conference on 2 July, and at the Proactive Investors event on 10 July. Both events are recommended to investors.
Competent Person's Statement
The information contained in this announcement has been reviewed and approved by Andy Carroll, Technical Director for Mosman Oil and Gas, who has over 35 years of relevant experience in the oil industry. Mr Carroll is a member of the Society of Petroleum Engineers.
Aorere advises net asset value per share
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Mosman Weekly Update 30th June
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Mosman Weekly Update 24th June 2014
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Mosman Oil & Gas Weekly Update
/Dear Aorere shareholder,
This announcement has just been filed with NZX.
Regards,
Chris Castle
Managing Director
Aorere Resources Limited
Cell: +64 21 558 185
24 June 2014
NZX Announcement
Mosman provides weekly update
Following recent placements by Mosman Oil and Gas, Aorere Resources Limited now holds approximately 13.1% of this AIM listed company.
Mosman released the following announcement in London today.
Our Mosman shareholding now has a present market value of NZD 4 million, based on the present market price of 20 pence. As a result the undiluted net asset backing of an Aorere share (including all significant portfolio assets at market value) is now 1.56 cents. 47% of that value is represented by the Mosman shareholding.
Regards,
Chris Castle, Managing Director
Aorere Resources Ltd
23 June 2014
Mosman Oil and Gas Limited
Weekly Project Update
Mosman Oil & Gas (AIM: MSMN), the New Zealand and Australia focused oil exploration and development company, advises on latest progress at its Petroleum Creek Project as follows.
The Cross Roads-1 well has been halted at 335m, for future re-entry and testing. The Oil Discovery in the Eight Mile formation means the exploration phase has been successful and signals the start of the appraisal phase. Meetings will be held next week to review the core and wireline log data obtained, and to consider the next steps. This includes laboratory analysis of core data, review of the geological model and detailed well test design. The team will also review the mapped extent of the accumulation and consider what additional information is required to determine contingent resources.
As previously reported the Cobden limestone had oil shows in the bottom of the 8.5 inch hole at 241m and in the first 6m of core (242m to 247m). Evidence of fracturing then increased, significant mud losses occurred, and oil shows ceased. Wireline logs were performed and reviewed by independent consultants and it has been determined that the logs for the Cobden limestone are inconclusive and further analyses and tests are required.
This has no effect on the Oil Discovery reported for the Eight Mile formation.
Cross Roads-1 was cored and drilled to near-basement at 335m, and 4.5 inch casing run and cemented to allow future cased hole testing of the Cobden and Eight Mile formations. Due to extended coring and logging operations created by the previously reported oil shows, and minor rig equipment delays, the well has taken a few days longer than anticipated. In accordance with operational Health Safety and Environment (HSE) requirements, the rig crew is now on break time. From an HSE perspective, we are pleased to report there been no HSE incidents. The rig, crew and service company performance has been excellent.
With the new geological information acquired and the encouraging results, Mosman (in consultation with its existing resource consultants, and now additional petroleum engineers), is reviewing the 2014 forward programme at Petroleum Creek. Of note is an increased focus on the seismic defined flank prospects near Cross Roads-1. These include the Blair, Pipers Creek, No Town Track and Bells Gully prospects, which were previously identified by SRK. At this stage it is anticipated that some of these locations could be ready to drill in the next few weeks. The prospects and logistics are being reviewed to determine the optimal well design and the sequence of drilling. The recent funding allows important foundation work to be undertaken, such as additional technical studies and seismic acquisition and re-processing, as well as operational improvements such as the purchase of the currently rented property to provide the local base camp and storage area.
Given the recent capital raising, and the success at Cross Roads-1, it is now anticipated that at least 4 and possibly 5 or 6 wells may be drilled in 2014. Planning has also commenced on seismic targets which may be acquired in the near term.
John W Barr, Executive Chairman of Mosman commented: "Cross Roads-1's success has brought early exploration success and as a result we are making every effort to increase and maximize the exploration efforts in 2014. Focus has now broadened to review and appraisal and resetting priorities for the next few months."
Investor presentations
John W Barr and Andy Carroll will be in London presenting at the Oil Barrel conference on 2 July, and at the Proactive Investors event on 10 July. Both events are recommended to investors.
Competent Person's Statement
The information contained in this announcement has been reviewed and approved by Andy Carroll, Technical Director for Mosman Oil and Gas, who has over 35 years of relevant experience in the oil industry. Mr Carroll is a member of the Society of Petroleum Engineers (SPE).
