Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
Mosman Oil and Gas (LON: MSMN) shares are down on Wednesday after confirming that it has completed the airborne gravity and gradiometry data acquisition over permit EP-145 located in the Amadeus Basin in Central Australia.
The company described the survey as “a significant step” in the exploration programme for EP-145. It is the first time data will be acquired for the whole permit and will provide information across the entire 818 sq km permit area.
The current data is limited to the northwest and central part of the permit, with existing data too sparse to provide sufficient detail of the salt-related structures identified as hydrocarbon and helium leads.
The survey was completed by Xcalibur Airborne Geophysics. Mosman has now contracted Geognostics Australia to interpret the data. They will integrate it into the regional basin model, which is estimated to take approximately 8 weeks and cost the company A$82,000.
Mosman's share price is currently down 1.56% at 0.157p.
Mosman Oil and Gas shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are MSMN shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 75 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .