Mosman Oil & Gas finalising Officer Basin withdrawal

Mosman Oil & Gas announced on Monday it was seeking shareholder approval to finalise its withdrawal from a major early stage exploration project in Australia.

The AIM-traded, New Zealand and Australia focused oil exploration and development company announced on 18 January that it intended to withdraw its 25% interest in the Officer Basin application, under the terms of the original acquisition agreement.

Mosman said it was now calling a shareholder meeting to consider the cancellation of nine million shares that were issued for the acquisition, and other related matters.

The firm’s board said it expected the meeting will be held in July, with full details of the resolutions being put to shareholders to be announced alongside the posting of the notice of meeting.