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Mosman Oil & Gas completes acquisition of stake in Oklahoma project

Staff Writer |
Mosman Oil & Gas Ltd has completed the $500,000 acquisition of a 10% stake in the Arkoma stacked pay project in the U.S.

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The oil and gas explorer has also executed options to buy a further 20% of the Oklahoma-based project in October and 25% in March 2018, while its strategic partner, Blackstone Oil & Gas Inc, intends to buy a 45% stake in the project.

Analysts at Inland Oil & Gas Ltd estimated the gross reserves and resources of the area in Okfuskee County to be 8.5 million barrels of oil equivalent, based on 3D seismic data.

Mosman has commissioned an independent reserves and resource report to verify the estimates.

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