Mosman Oil and Gas said it is looking beyond the oil and gas sector for new investment opportunities as the oil price slump continues.
The UK-lised company said several several potential opportunities have been declined thus far, but the company is continuing talks on possible investments that still would be in the oil and gas sector.
“With current prevailing market conditions in the oil and gas sector, the Board has expanded its horizon, reviewing investment opportunities in the broader resources arena, which play to the strengths of the board, who have significant experience in the resource sector across a number of countries,” the company said.
Mosman has already invested in TSV-V listed, GEM International Resources’ interest in the Dala diamond exploration project in Angola.
The group said it remains in a sound financial position, has implemented cost cuts across the business and is continuing to monitor its plans.
The company added exploration work is ongoing on its existing assets, with survey work on the Murchison permit in New Zealand to take place soon and talks on the work programme at Petroleum Creek and the Taramakau prospects continuing.
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