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    Mosman to Acquire New Zealand Oil, Gas Assets from Origin

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Summary

Mosman Oil and Gas Limited has decided to acquire 40 percent stake in New Zealand based oil and gas assets which include the Rimu, Kauri and Manutahi fields (the STEP project) from Origin Energy Limited.

by: Shardul

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Asia/Oceania

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Mosman to Acquire New Zealand Oil, Gas Assets from Origin

Mosman Oil and Gas Limited has decided to acquire 40 percent stake in New Zealand based oil and gas assets which include the Rimu, Kauri and Manutahi fields (the STEP project) from Origin Energy Limited.

These assets will be acquired for a sum of NZ$10 million.

Mosman expects to partner with a privately owned independent oil company, which will acquire the balance of the project interest.

STEP currently produces oil, condensate, gas, LPG and electricity. The Project also includes: 2P reserves of 1.9 Bcf gas and 1.4 MMbbl oil, 2C resources of 13.7 Bcf gas and 4.1 MMbbl oil  and prospective resources upwards of 179Bcf and 166MMbls. 

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