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Mosaic Oil [ASX: MOS] - Half year results and outlook



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Mosaic Oil [ASX: MOS] - Half year results and outlook

Australian oil and gas producer Mosaic Oil NL (ASX: MOS) today announced a record interim result for net profit after tax of $3.117 million for the half year ended 31 December 2008 - an increase of 39.4% on last year�s result for the corresponding period.

The favourable result was based on a continuation of the Company�s solid operational performance over the last 4 years.

Strong interim results include:

� 8% increase in total production to 229,299 BOE to pcp (previous corresponding period to December 2007)
� 40% increase in revenue from ordinary activities to $13.1m to pcp
� Record half-yearly EBITDA of $5.3m
� 39.4% increase in net profit after tax to $3.1m to pcp
� Revenue for FY09 forecast to exceed FY08 by 15%


For a summary of the report, please find the attached Media Release.

To see the full Half Year Financial Report, please visit:
http://clients.weblink.com.au/clients/mosaicoil/article.asp?asx=MOS&view=2541606


For further information, please contact:

Mosaic Oil: Scott Brown � Chief Financial Officer � (02) 9247 9324
Media: Bill Kemmery � Fortbridge � (02) 9331 0655 � mob 0400 122 449 �


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