Mosman Inks Land Agreements for Drilling in NZ's Petroleum Creek Project

Mosman Oil and Gas Limited, a New Zealand and Australia focused oil exploration and development company, disclosed Monday that it has signed agreements with Landcorp and a local farmer to access land in preparation for the commencement of drilling of Crossroads-1 and Crestal-1 wells in the Petroleum Creek Project in petroleum exploration permit (PEP) 38526 in New Zealand's South Island in June 2014.

Landcorp is a corporation based in Wellington which owns and manages farms throughout NZ. The agreement with Landcorp also contemplates a second well on their property. Both landowners have agreed to leave in place some of the site modifications, such as new fences and gates, to the benefit of all parties.

John W Barr, executive chairman of Mosman commented "This is the next milestone in preparation for drilling in June 2014 and we are pleased to reach mutual agreement with two key stakeholders in our Petroleum Creek project."

In addition, Andy Carroll, technical director of Mosman and Graeme Alexander, NZ legal counsel and In Country manager have been appointed to the Board of Mosman’s wholly owned subsidiary Petroleum Creek Limited (PCL) and Dene Biddlecombe has stood down as a director of PCL.

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