Mosaic Oil [ASX: MOS] - Mosaic signs agreement with Santos to acquire the remaining interest in the Churchie Field in the Surat-Bowen Basin Australian Oil and Gas producer, Mosaic Oil N.L. (ASX: MOS) has today signed an agreement with Santos Ltd (ASX: STO) to acquire Santos interest in several production licences with the associated pipeline licences, production facilities, gas sales contracts and exploration permits in the southern Surat-Bowen Basin. The agreement has an effective date of 1 January 2009. The key metrics of this acquisition are: A significant increase in 2P & 3P gas reserves; A significant increase in Profit and Revenue An acquisition which is EPS positive for Mosaic Oil from day one; An attractively priced acquisition when compared with other recent transactions; Increases the development options for Mosaic Oil. All production licences, pipeline licences and exploration permits involved in this transaction are currently operated by Mosaic Oil. Mosaic Oils Managing Director Lan Nguyen said the acquisition was of both commercial and strategic value to the Company. Please find attached a release with more details on the agreement. For further information contact: Mosaic Oil: Scott Brown Chief Financial Officer on +61-2 9247 9324 Media: Bill Kemmery Fortbridge on +61-2 9331 0655, mob 0400 122 449 Fortbridge.NET is a specialist web-based service for clients ("Issuer") of Fortbridge Consulting Pty Ltd. DISCLAIMER: The message and attachment issued with this email may contain "forward-looking statements", which are projections that reflect the Issuer`s reasonable beliefs based on information currently available. Fortbridge is a Public Relations consultancy. PRIVACY: You have been regarded as a relevant contact through research. Please consider the environment before printing this document.
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