(MENAFN- ProactiveInvestors)Andy Carroll technical director of Mosman Oil & Gas (LON:MSMN) says the acquisition of producing assets in New Zealand is a great piece of business for the company. The project which is costing Mosman NZ$10mln (roughly £4.2mln) and includes producing oil and gas fields and will be branded as the South Taranaki Energy Project (STEP). It comprises almost 2bn cubic feet of gas and 1.4mln barrels of oil reserves as well as 13.7bn cubic feet and 4.1mln barrels of resources. Included in the assets are the production licences and Mosman expects to end up with between 40% and 70% of the project.
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