MEO Australia

Published : January 19th, 2015

Update on takeover bid for MEO Australia Limited

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Keywords :   Australia | Growth | New Zealand | Oil | Water |

Update on takeover bid for MEO Australia Limited


19 January 2015

Mosman Oil and Gas Limited

Update on takeover bid for

MEO Australia Limited

The Directors of Mosman Oil and Gas Limited ("Mosman" or the "Company") (AIM: MSMN), the New Zealand and Australia focussed oil exploration and development company is pleased to update shareholders in respect of the takeover of MEO Australia Limited ("MEO") (the "Proposal").

Variation of the Proposal

Mosman has improved the terms of the Proposal by increasing the consideration payable to the
MEO shareholders pursuant to the Proposal from 1 Mosman Share for every 20 MEO Shares to 1
Mosman Share for every 10 MEO Shares.
Further, having regard to MEO's ASX Announcement dated 22 December 2014 in respect to the termination of the merger implementation agreement between MEO and Neon Energy Limited, Condition 5 (of the Neon Scheme) is deleted. The Proposal will no longer be subject to Condition 5 (of the Neon Scheme).

Bidder's Statement

The Bidder's Statement in respect to the revised Proposal will be sent to MEO by 27 January 2015 and subsequently despatched to MEO shareholders by 10 February 2015.
The Board of MEO further advised its shareholders that it will consider its opinion on the Mosman Proposal in light of the termination of the Neon Scheme. MEO Shareholders were advised to take no action until they receive the MEO Directors' formal recommendation.

John W Barr, Executive Chairman of Mosman commented: "This is a good opportunity for shareholders of both Mosman and MEO. The combined entity can fund exploration, preserve longer term assets and progress to production and cash flow."

Enquiries:

Mosman Oil & Gas Limited

John W Barr, Executive Chairman

Andy Carroll, Technical Director [email protected][email protected]

SI Capital Limited

Nick Emerson/Andy Thacker

+44 (0) 1483 413500

Gable Communications

John Bick

+44 (0) 20 7193 7463 [email protected]

ZAI Corporate Finance Limited

Tom Price/John Simpson

+44 (0) 20 7060 2220

Updates on the Company's activities are regularly posted on its website www.mosmanoilandgas.com
1

About Mosman

Mosman (AIM: MSMN) is an Australia and New Zealand focused oil exploration and development company with a strategy to build a sustainable mid-tier oil and gas business by acquisition and organic growth.
Currently, Mosman has a total of ten permits or accepted permit applications in New Zealand and
Australia.

Petroleum Creek Project, New Zealand

Mosman owns 100% of permit PEP 38526, the Petroleum Creek Project, which is a 143 sq. km low cost onshore exploration project located near Greymouth on the South Island in the southern extension of the proven Taranaki oil system.

Taramakau, Murchison and East Coast Permits, New Zealand

These permits were granted to Mosman on 9 December 2014 as part of the 2014 Block Offer, a sixteen-fold increase in the exploration area in NZ from 143 sq. km to 2,317 sq. km.

Officer Basin Project, Australia (Application)

Mosman has a 25% investment in the Officer Basin Project, a 22,527 sq. km large land holding with significant exploration potential, which lies in one of the more explored parts of the Basin with road access. The project area is in the Western Australian part of the Officer Basin and offers both conventional and unconventional potential with hydrocarbon shows reported and all elements of a petroleum system are present.

Amadeus Basin Projects, Australia

Mosman owns 100% of two granted permits and one application in the Amadeus Basin in Central Australia which total of 5,458 sq. km. The Amadeus Basin is considered one of the most prospective onshore areas in the Northern Territory of Australia for both conventional and unconventional oil and gas, and hosts the producing Mereenie, Palm Valley and Surprise fields.

Otway Basin Project, Australia

Mosman owns 30% of VIC/P62 in the Otway Basin. The permit was recently renewed and is in relatively shallow water. The 70% permit holder funded a 3D seismic survey in 2013. The results of the 3D seismic survey are now being integrated in to a geological model to allow identification and ranking of drilling targets. Within the Otway Basin there is commercial production both onshore and offshore.
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Data and Statistics for these countries : Australia | New Zealand | All
Gold and Silver Prices for these countries : Australia | New Zealand | All

MEO Australia

CODE : MEO.AX
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MEO Australia is a and oil exploration company based in Australia.

MEO Australia is listed in Australia and in United States of America. Its market capitalisation is AU$ 25.7 millions as of today (US$ 19.8 millions, € 17.9 millions).

Its stock quote reached its highest recent level on November 19, 2010 at AU$ 0.62, and its lowest recent point on January 29, 2016 at AU$ 0.01.

MEO Australia has 953 240 000 shares outstanding.

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Corporate Presentations of MEO Australia
7/9/2008Investor Presentation
1/24/2008 General Meeting Presentation - January 24, 2008
1/16/2008Investor Update – January 2008
Annual reports of MEO Australia
Financial Report 2008
Annual Report 2007
Nominations of MEO Australia
5/20/2008APPOINTS NEW CEO
Project news of MEO Australia
1/29/2015Proposed acquisition of MEO Australia Limited Release of Bid...
Corporate news of MEO Australia
7/11/201625/11/2015 - MEO Annual General Meeting Presentation 2015
7/8/201609/07/2012 - MEO Investor Update - US Roadshow July 2012
4/14/201625/11/2015 - MEO Annual General Meeting Presentation 2015
12/4/201520/10/2015 - MEO Investor Presentation October 2015
3/17/2015Letter to MEO Shareholders
3/4/2015Letter to MEO Shareholders
3/3/201505/11/2014 - MEO NEON Merger Investor Presentation
1/19/2015Update on takeover bid for MEO Australia Limited
12/23/2014MEO: MEO receives $400,000 Reimbursement Fee from Neon
12/21/2014MEO: Neon Terminating Merger Implementation Agreement
12/19/2014MEO: Merger Transaction Update
12/14/2014MEO: MEO Directors respond to Mosman Proposal
12/2/2014MEO: Lodgement of Scheme Booklet
11/18/2014MEO NEON Merger Investor Presentation
11/18/2014MEO NEON Merger Announcement
11/18/2014New Address for MEO Australia Limited
11/4/2014MEO Securities Update as at 5 Nov 2014
11/3/2014Acting MEO Chairman
10/28/2014Quarterly Activities Summary for Period Ended 30th Sept 2014
7/25/2014ASX Release Quarterly Activities Summary to 30th June 2014
7/25/2014Quarterly Cash Flow Summary For Period Ending 30th June 2014
7/9/2014ASX Release MEO Securities
7/9/2014ASX Release - Appendix 3Y
4/22/2014Vulcan Sub-Basin AC/P50 and AC/P51 Work Program Variation
1/16/2014Quarterly Cash Flow Summary for Period Ended 31st Dec 2013
12/22/2013Blackwood-2 Progress Report No.8
12/16/2013Second Heron Well Notice Date extended
11/28/2013Blackwood-2 Progress Report No.5
11/28/2013MEO Securities Update as at 28 Nov 2013
11/22/2013Blackwood-2 Progress Report No.4
11/15/2013Blackwood-2 Progress Report No.3
10/31/2013Appendix 3Z
10/31/2013Results of Annual General Meeting
10/31/2013MEO 2013 AGM Tassie Shoal Overview
10/27/2013Blackwood-2 Progress Report No. 1
3/10/2009Commences acquisition of 250 km2 Artemis 3D Marine Seismic S...
2/26/2009Half Year Financial Report
2/17/2009Coal-to-Liquids & Gas-to-Liquids Conference
2/3/2009Zeus-1 update
1/27/2009Zeus-1 update
1/16/2009Zeus-1 update
1/15/2009Presentation Disclaimer
1/1/2009RDI options in relation to MEO’s Timor Sea Projects lapse
12/22/2008Secures 12 month extension to farm-in to WA-359-P and WA-360...
12/16/2008Update on Zeus-1 timing
12/11/2008Update on Zeus-1 timing
12/1/2008Update on Zeus-1 timing
11/5/2008ASX Media Release
9/22/2008Increases interest in WA-361-P & Zeus-1 to 35%
9/17/2008Update – Zeus-1 timing
8/22/2008OUTCOME OF RESOLUTIONS PUT AT GENERAL MEETING
8/21/200821 August 2008 General Meeting Presentation to Shareholders
7/17/2008 RETIREMENT OF MANAGING DIRECTOR
7/16/2008SONGA VENUS RIG CONTRACTS EXECUTED FOR ZEUS-1
7/14/2008RESIGNATION OF NON-EXECUTIVE DIRECTOR
7/4/2008ANNOUNCES MAJOR STRATEGIC ALLIANCE
5/30/2008Re: Price query
5/19/2008BLACKWOOD 3D SEISMIC ACQUISITION COMPLETED ON SCHEDULE
5/12/2008NEW DIRECTOR APPOINTED TO MEO BOARD
5/9/2008PROGRESS REPORT: BLACKWOOD 3D SEISMIC ACQUISITION
3/25/2008PGS AUSTRALIA AWARDED 3D SEISMIC ACQUISITION CONTRACT
3/11/2008BLACKWOOD-1 WELL WEEKLY DRILLING REPORT – No 6
3/3/2008BLACKWOOD-1 WELL WEEKLY DRILLING REPORT – No 5
2/25/2008BLACKWOOD-1 WELL WEEKLY DRILLING REPORT – No 4
2/18/2008BLACKWOOD-1 WELL WEEKLY DRILLING REPORT – No 3
2/7/2008BLACKWOOD-1 WELL WEEKLY DRILLING REPORT – No 2
2/1/2008BLACKWOOD-1 WELL WEEKLY DRILLING REPORT – No 1
1/31/2008REPORT ON ACTIVITIES FOR THE QUARTER ENDED 31 DECEMBER 2007
1/31/2008HERON-2 WELL WEEKLY DRILLING REPORT – No 14
1/24/2008OUTCOME OF RESOLUTION PUT AT GENERAL MEETING – 24 JANUARY 20...
1/21/2008HERON-2 WELL UPDATE
1/18/2008HERON-2 WELL WEEKLY DRILLING REPORT – No 13
1/15/2008HERON-2 WELL UPDATE
1/11/2008HERON-2 WELL WEEKLY DRILLING REPORT – No 12
1/8/2008HERON-2 WELL UPDATE
12/31/2007NORTHWEST SHELF 3D SEISMIC ACQUISITION UPDATE
12/28/2007DECISION TO PRODUCTION TEST HERON NORTH PLOVER RESERVOIR
12/27/2007HERON-2 WELL WEEKLY DRILLING REPORT – No 11
12/20/2007HERON-2 WELL WEEKLY DRILLING REPORT – No 10
12/12/2007PLACEMENT OF 50M SHARES
12/10/2007GAS BEARING HERON NORTH ELANG/PLOVER FM ENCOUNTERED
12/7/2007THE AUSTRALIAN FINANCIAL REVIEW
12/7/2007HERON-2 WELL WEEKLY DRILLING REPORT – No 8
12/6/2007 JOINT VENTURE DECISION TO PRODUCTION TEST EPENARRA DARWIN R...
11/30/2007HERON-2 WELL WEEKLY DRILLING REPORT – No 7
11/27/2007HERON-2 WELL UPDATE
11/23/2007HERON-2 WELL WEEKLY DRILLING REPORT – No 6
11/20/2007HERON-2 WELL
11/15/2007HERON-2 WELL WEEKLY DRILLING REPORT – No 5
11/9/2007HERON-2 WELL WEEKLY DRILLING REPORT – No 4
11/8/2007RECENT TRADING IN MEO SHARES
11/2/2007NORTHWEST SHELF SEISMIC ACQUISITION & REPROCESSING
11/2/2007HERON-2 WELL WEEKLY DRILLING REPORT – No 3
10/31/2007REPORT ON ACTIVITIES FOR THE QUARTER ENDED 30 SEPTEMBER 2007
10/29/2007Adds North West Shelf interests while NT/P68 drilling is wel...
10/25/2007FARMIN TO NORTHWEST SHELF PERMITS
10/25/2007HERON-2 WELL WEEKLY DRILLING REPORT
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