Sydney, Dec 1, 2008 (ABN Newswire) - Mosaic Oil NL (ASX:MOS)(PINK:MSAOF) audio interview with Mr Lan Nguyen, Managing Director of Mosaic Oil to discuss the company's performance for FY2008 and its outlook for FY2009.
Following a successful 2008 Drilling Program in the Surat-Bowen Basin, Mosaic Oil NL (ASX MOS) have advised shareholders at their recent AGM that the company is forecasting a 27 per cent increase in production for FY29009: increasing to 520,000 barrels of oil equivalent (BOE) up from around 409,000 BOE in FY2008.
As a result, Mosaic Oil is also forecasting a significant uplift in revenue of up to 40 per cent: FY2009 forecast of up to $30.0 million compared with $21.7 million in FY2008, and is forecasting up to a 50 per cent increase in EBITDA for FY2009, increasing up to $12.0 million from $8.0 million in FY2008.
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
Mosaic Oil Nl
