company reply to my telephone call , page-11

Hello really?sally, I did not want get into a stoush but, here go's!

09 annuaul report:
production increaseded 18%;
revenue increased 16%;

4 wells came on stream as producers;

several other long term advancements: including Silver Springs Gas Storage

13/11/09
SPP at 11c worth 10.3 million

23/12/09
Shares allocated to directors

08/03/10
first half reporting
11.3% increase in total production.
21.4 million in cash with no debt.

20/05/10
Awarded sizable exploration blocks in New Zealand off shore permits.

25/06/10
Sells KIMU assest for 11 million dollars.

If any anyone thinks this is a dud company please read:
"In early April, Mosaic Oil 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. All production licences, pipeline licences and exploration permits involved in this transaction are currently operated by Mosaic Oil.

The acquisition is of both commercial and strategic value to the Company, and the purchase considerations will be paid from the """"""'existing cash reserves """"""of Mosaic Oil together with its ongoing cash flow'. There will be no equity raising or bank debt required to complete this transaction


Onshore


Mosaics main producing assets are based in the Surat - Bowen Basin in southeast Queensland; the Company also holds 40% interest in ATP 1056P, located in the Cooper-Eromanga Basin in southwest Queensland. Mosaics focus on Queensland now involves evaluation of the Companys significant exploration and production acreage, ongoing development of new commercial petroleum plays and discoveries, and greater use of our extensive infrastructure.

In the Surat-Bowen, Mosaic operates fields and discoveries in 10 petroleum leases, owns and operates the Silver Springs Processing Facility, and holds 50% interest in the Wallumbilla LPG plant and the associated pipeline. The proximity of Mosaic's oil and gas prospects to the Companys pipeline and processing infrastructure (within 30km) will facilitate early commercialisation of new discoveries.

Mosaic is about to trial fracture stimulation of its Churchie-1 well in the Surat-Bowen Basin. The use of this technology, which has proven successful in the U.S., could increase the wells gas flow rates from 3 to 10 times its current level. If successful, fracture stimulation will then be rolled out across the Companys Surat-Bowen acreage.

Mosaic will continue to evaluate both new and existing plays in its extensive Surat-Bowen Basins acreage, and do so through its application of Seismic technology to improve the chance of exploration success.

Offshore & International
Mosaic also has interests in the near-shore and onshore exploration projects in New Zealand, and in one offshore Australian asset in Western Australias the North West Shelf region.

In New Zealand, Mosaic has concentrated on acquiring acreage within the Taranaki Basin, which has an established gas market and well-developed infrastructure. Taranaki is New Zealands sole oil and gas producing basin with an expected ultimate recovery (EUR) from existing fields and discoveries under development of approximately 7 trillion cubic feet (TCF) of gas and more than half a billion barrels of oil and condensate. Mosaics exploration focus is in two well-defined prospective trends in the onshore and near-shore Taranaki Basin: the Eocene coastal reservoir fairway and the Eastern Margin trend.

On the Northwest Shelf, the Santos-operated joint-venture, WA-208-P (MOS 6%) holds the Hurricane gas discovery. The Hurricane-2 well was spudded in June 2007, and in July 2007 Mosaic Oil and Santos announced that drilling had encountered a column of oil and gas. The Joint Venture is reviewing options, including an exploration well in 2011, for the future exploration of this permit. At some point, the Hurricane discovery may be tied into near-by facilities but current economic is considered marginal.

In Papua New Guinea, the Oil Search-operated Kimu gas field (MOS 28.6%) which contains an estimated resource of more than 200 Bcfof recoverable gas, is attracting renewed interest from both the PRL 08 Joint Venture and potential gas customers.

Mosaic's Focus

With its entry into the Cooper-Eromanga Basin and new New Zealand acreage, the Companys near-term focus is on developing its current portfolio. Mosaic will use proven technology to deliver short to near term cash flow.

Acreage Management Strategy


Mosaic actively manages its acreage portfolio, which is continually assessed based on the prospectivity, work obligations and strategic importance of that acreage within Mosaic's overall business strategy. Exploration Permits and/or Production Leases are surrendered if insufficient hydrocarbon potential remains or if economic potential no longer exists. Equally, the Company evaluates areas adjoining its existing acreage, as well as elsewhere in those petroleum basins in which the Company is active, to identify additional opportunities.

Consequently, Mosaic's exploration and drilling program is also continually reassessed and prioritised. Permit management and compliance, seismic planning and the general exploration program are under the management of the Companys Exploration Manager.


Sub Menu
Surat-Bowen Basin
Underground Gas Storage
North West Shelf (WA)
Kimu-PNG
Cooper-Eromanga Basin
Taranaki Basin (NZ)
Schedule of Petroleum Tenements

I was not seeking to degrade your efforts Really,
but was somewhat sceptical, as to how quick you were to tow the party line as spoken to you by Sally.

If you think this "snap shot" of MOS's future is good enough to sell to AGL, then go for it! Even though MOS has @41million in cash
Which I am sure I will have no choice but to do. However "as stated previously " , i have voiced these same concernes with ASIC and let them make a decision. Because you and I and the rest of the smallish shareholders have NO CHOICE.
We are gone whether we like it or not. But what I have posted above shows no reason for the share price do drop to 8.7c, except for the fact AGL had, who knows, for how long previuosly? approx 20% of shareholders on board for their bid?

This was not a personel attack on you really. But to clarifying that we shreholders have bee shafted. Good liuck.