What an absolute shocker of an RNS we got today from Mosman Oil & Gas (LON: MSMN) I warned investors months and months ago that the nature and the deliberate convoluted announcements of these so called ‘discoveries’ left a lot of unanswered questions. When oil Company’s’ find significant oil discoveries they quickly get the numbers out into the public domain. When they prevaricate for months upon months you know it’s bollocks.
We had the word ‘discoveries’ trumpeted for months yet no idea of just how big the ‘discoveries’ were! In the mean time the Company rinsed millions upon millions of pounds out of gullible investors. The sp hit over 56p, a near 500% rise. Mosman cashed in on the rises knowing that their extended flow tests were NOT producing commercial QUANtitIES of oil. Disgraceful.
It’s a piss poor sham to now say that Crestal1 and Crossroads1 have “not produced commercial quantities of oil” from the two formations Lower8mile, Cobden. It’s all academic because the “extended flow tests on Cross Roads-1 and Crestal-1 continue; however, they have not produced commercial quantities of oil”. Today you get to know exactly how many barrels of oil have flowed over an extended flow test from the so called discoveries. Answer. A big fat ZERO!
Yes folks you’ve all been played for fools by the Company. If I and others were flagging this up months ago then you can bet your last penny that Mosman knew their discoveries were not of such a significant event as they trumpeted out via the “Discovery, Discovery, Discovery” clarion call RNS’s.
If you want a Company to look at, try Sound Oil or Nostra Terra Oil & Gas. NTOG are producing more oil than Mosman ever will. Mosman are another Kea Petroleum (LON: KEA). An Aussie piss taking outfit operating out of? Perth, Western Australia. Now where have I heard that before?
Come to think of it they both Mosman/Kea use the same oil field services company and have connections to MEO. You can see exactly what they’re now doing. Moving away from Crossroads1/Crestal1+2 and talking about other “larger prospects away from the crest of the Kotuku Dome”
Hang your head in shame Exec’ Chairman John Barr. No credibility whatsoever. Laughing all the way to the bank!
Mosman Oil & Gas are a disgrace. Sell up and move on.