In May, the company agreed to sell Welch asset for US$300,000 and the deal is now expected to complete in July
Mosman Oil And Gas Ltd (LON:MSMN) shares strengthened on Friday as the company announced it has granted an extension to the buyer of its Welch asset in Texas.
The company previously entered into a contract with Eagle Natural Resources LLC for US$300,000 (A$460,000) to buy the Welch project in May, with a non-refundable deposit of US$30,000 paid.
In a statement, Mosman said that the purchaser had asked for a 14-day extension to complete the transaction and said it would increase the deposit amount to US$60,000.
The company added that it now expects full settlement of the transaction on July 3, 2020.
On AIM, Mosman shares gained 10.7% to change hands at 0.14p.
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is…
In exchange for publishing services rendered by the Company on behalf of Mosman Oil And Gas Ltd named herein, including the promotion by the Company of Mosman Oil And Gas Ltd in any Content on the Site, the Company…