Mosman Oil and Gas nears potential Amadeus joint venture

Exploration and production company Mosman Oil and Gas has signed preliminary agreements for a potential joint venture (JV) for its Amadeus project in Australia.

The company is looking for partners to fund seismic work for exploration permit EP 145, followed by well drilling planned for next year.

Mosman has executed a memorandum of agreement (MoA) and heads of agreement (HoA) with undisclosed parties. A formal data review and detailed discussions are expected to be shortly underway.

Also comprising a site visit, these discussions will commence soon, following which a data review will then decide on the respective outcome.

The company is currently waiting to receive confirmation on the extension of the EP 145 permit from the respective authorities.

Mosman, however, is not advised on when it is expected to receive grant approval.

Mosman Oil and Gas executive chairman John W Barr said: “This is the first step in a potential joint venture for Mosman’s Amadeus project. Site visits and detailed data reviews will now be arranged to progress the matter.

“Mosman appreciates the assistance of the Northern Territory Government Departments who arranged the presentations and assisted in subsequent discussions and expresses its thanks for all concerned.”

In July, Mosman Oil and Gas announced the work progression with respect to EP 145.

In September 2018, the company agreed to acquire two assets in East Texas, US, as part of a strategic alliance with Baja Oil and Gas.