OilCo holds exploration permit EP156, on which independent consultant SRK outlined several prospective leads, as well as exploration permit application EP(A)155 in the Amadeus Basin in Australia.
Currently, Mosman is acquiring Trident Energy and the company’s holdings in the Amadeus will cover a total of 5,458km².
The company will assume and fund the 2014 minimum work requirement for EP156, which includes a gamma ray survey, gamma ray logging, and outcrop mapping and sampling.
The minimum work is required to be completed before 6 November 2014.
Mosman Oil and Gas executive chairman John Barr said: "With Mosman’s strategy to develop oil and gas assets in Australia and New Zealand, this opportunity and commercial terms fit well within our stated growth strategy.
"The OilCo assets in the Amadeus Basin provide a natural complement to Mosman’s Australian exploration assets and are located in a prospective region that is experiencing a surge in exploration and development activity."
Located in the Northern Territory of Australia, EP156 covers an area of 4,262km² with a five-year grant.
