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Distributed: Sep 30, 2008

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Sydney, Sep 30, 2008 (ABN Newswire) - Mosaic Oil NL (ASX:MOS)(PINK:MSAOF) Weekly Operations Update - Surat-Bowen Basin, Qld

Freneau-1 (ATP 709P - MOS 100%)

Freneau-1 was cased and suspended for future cased hole production testing program. MB Century rig 7 was released on 27 September 2008.

This is the final weekly update. Further operations update will be released to the market when testing information becomes available.


About Mosaic Oil Nl

Mosaic Oil N.L. (ASX: MOS) is a successful junior Australian explorer and producer of oil and gas. The Company's principal producing assets are based in the highly prospective proven producing Surat and Bowen basins of southeast Queensland. Mosaic's focus on Queensland now involves accelerated evaluation of the Company's extensive exploration and production acreage, ongoing development of new commercial petroleum plays and discoveries similar to the basin-centred hydrocarbon plays in the Canadian Deep Basin of Alberta and American Rocky Mountain area of Wyoming, and greater use of the Company's own extensive production infrastructure.

Contact

Mosaic Oil:
Lan Nguyen
Managing Director
Tel: +61-2-9247-9324

Media:
Bill Kemmery
Fortbridge
Tel: +61-2-9331-0655
Mob: +61-400-122-449

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