Mediterranean Oil and Gas Plc to Float on AIM
Friday, November 11, 2005
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Mediterranean Oil and Gas Plc (MOG), the London-based oil exploration and gas production company with a portfolio of assets in countries within the European Union, namely Italy and Malta, announces today that it is floating on AIM on 16th November 2005. The Group has recently raised 11.7 million (gross of expenses) in a placing of 11.7 million new Ordinary Shares at a price of 1.00 (the Placing). WH Ireland Limited is acting as Nominated Adviser and Broker to the Company. On Admission, MOG will have a market capitalisation of approximately 33.3 million.

Portfolio of Assets

The Groups principal assets are as follows:

The Group owns 100 per cent. of the Ombrina Mare Concession, located offshore Italy in approximately 20m of water. The permit contains the Ombrina Mare oil discovery, which has been estimated by the Groups Competent Person, RPS Energy, to hold on a Best Estimate basis some 19.5 million barrels (Mbbl) Net Contingent Resources; 89 Mbbl Stock Tank Oil Initially in Place (STOIIP) - both on 100% basis. Two satellite oil prospects and three gas leads are to be evaluated by the Company to ascertain whether there is a potential to develop those prospects in conjunction with any development of the main Ombrina Mare field.

The Group holds the benefit of an Exploration Study Agreement over blocks 4, 5, 6, and 7 in Offshore Malta Area 4 on the Mediterranean Pelagian Shelf. Area 4 lies to the south of Malta abutting the boundary with the Libyan offshore area 44. A small part of the total area has been subjected to 3D seismic and three prospects have been identified in that area. RPS Energy has estimated, for the three identified prospects in Block 7 which have been matured by 3D seismic, to hold on a Best Estimate basis a total of 218.2 Mbbl Net Prospective Oil Resources; 648.1 Mbbl STOIIP - both on 100% basis un-risked. The Board believes that the area is prospective and wishes to both mature the identified prospects and carry out more regional seismic testing within its permits in order to attempt to identify further prospects within the Groups concession.

The Group holds 20 per cent. of the Serra San Bernardo permit in joint venture with ENI S.p.A. (ENI) and Total Italia S.p.A. amongst others. The Company, as operator under the joint venture, proposes to mature the permit in order to drill the Monte Grosso prospect located within it. RPS Energy has estimated the Monte Grosso prospect to hold on a Best Estimate basis a total of 120.7 Mbbl Prospective Oil Resources; 710.7 Mbbl STOIIP - both on 100% basis un-risked.

The Group holds 20 per cent of the Guendalina gas discovery offshore Adriatic. RPS Energy has estimated this prospect to hold on a Best Estimate basis a total of 455 million standard cubic meters (Mscm) Contingent Gas Resources; 796 Mscm Gas Initially in Place - both on 100% basis. This interest is operated by ENI.
The Group is one of a relatively small number of Italian oil and gas producers and holds interests in a variety of granted production concessions. The Group currently owns interests in: eighteen production concessions, for nine of which its is the operator; seven exploration concessions, for five of which it is the operator; and four permit applications for two of which it will act as operator in Italy. The Group will endeavour through investment in further exploration and development to increase production from identified reserves in these concessions.

Current Financial Status
MOG is already a significant player in gas production in Italy. The portfolio of assets that the Group has established has been generating revenue for a number of years.
The Directors believe that the Group, with the proceeds of the Placing, is well positioned to execute its exploration and development programme and assist its further growth and development. The Directors consider that together, with the funds currently available to the Company, having its Ordinary Shares traded on AIM and the increased profile associated with being a publicly quoted company will significantly assist in the expansion of the Groups operations and the development of its assets.

Group Strategy
The proceeds of the Placing will be used to help effect the Boards strategy, which is to become a medium sized oil and gas production company. The Board intends to effect its strategy by:

expediting the appraisal, development and exploitation of oil and gas discoveries and prospects within the Ombrina Mare Concession;

advancing the drilling of Offshore Malta Block 7 which comprises three mature prospects and progress the very large Italian Monte Grosso prospect;

expanding the Groups production and reserves in Italy in order to increase earnings and cash flow; and
the simultaneous exploration and development of the Groups current concessions, thereby spreading the risk across a number of projects.

Management Team
Mediterranean Oil and Gas benefits from a strong Board and senior management team; it has extensive experience of oil exploration and development, as well as project management and resource financing. David Lenigas (non-executive Chairman) has over twenty years experience in the gold, diamond, coal, oil and gas and base metals industries. He has extensive experience operating in the AIM environment and is currently the joint managing director of Asia Energy Plc and a director of BDI Mining Corp, Braemore Resources Plc and River Diamonds Plc, all of which are quoted on AIM.

The multilingual Giovanni Catalano (Chief Executive Officer) took up his position in June 2005. He has had over twenty-five years in the upstream oil and gas industry with the last position held in Woodside Energy Pty Ltd, Perth, Western Australia as Far East Business Development Manager. In addition, Mr Catalano played an instrumental role in growing Woodsides overseas business with world-wide new ventures and exploration/development projects, with particular emphasis on the Italian, African and Asian regions. Prior to Woodside (7 years) he was with AGIP (9 years) and LASMO International (11 years). He is a former Director of the Woodside Energy UK and AGIP Mauritania BV companies and former Chairman of Woodside Energias SA in Spain.

Anthony (Tony) Trevisan (Executive Director) has, over twenty years, played major roles in a large number of corporate transactions involving financing, mergers and acquisitions, the restructuring of industrial, petroleum and mineral resources based public companies. He has participated in the establishment, from start up, of substantial operating businesses and been responsible for public offerings and the floating of companies on the Australian and other international Exchanges. Mr Trevisan has held senior executive positions in listed public companies, including petroleum, mining, industrial and high technology interests such as Arabex Petroleum (Rubiales petroleum discovery), Callina NL (petroleum workover project in the Russia, Komi Oil Field), Trident Petroleum (Joint Venture with Conoco - now Conoco Phillips in Papua New Guinea) and Aqua Vital (Australia) Ltd (now owned by Coca Cola), amongst others.

MOGs other current Directors are Salvatore Russo, Peter Clutterbuck and Patrick Collins (all non-executive). Salvatore has held senior positions on the Boards of some of Italys largest corporations including chairman and CEO Saipem S.p.A., chairman and CEO of both Snam S.p.A. and Snam Rete Gas S.p.A. He is currently chairman and CEO EnerTAD S.p.A. and has served on the Boards of a number of companies including Agip, EniChem and Italgas.

Peter has broad experience in exploration, development and production in the USA, North Sea, former Soviet Union (FSU), Latin America, Middle East, Africa and Asia. He began his career with BP Group, and has subsequently managed independent oil companies for over 20 years.

Patrick holds an MBA from New York Universitys Stern School of Business and was formerly a Restructuring Investment Banking Analyst at the New York based insolvency restructuring firm of Zolfo, Cooper & Co. After stints with Morgan Stanley and Merrill Lynch in New York, in 2000 he moved to London to Head Merrill Lynchs European Distressed Debt Trading team. Mr. Collins joined Mizuho International plc to establish and run the Global Special Situations Group, where he a non-executive director.

Giovanni Catalano, Chief Executive Officer, Mediterranean Oil and Gas Plc, said: MOG will be something of a rarity on AIM, as it is already a producing, cash-generating gas production company. The team believes that our flotation on AIM will fundamentally improve the visibility of the Group and allow it to access the necessary funding to exploit its substantial existing and potential oil reserves in Italy and Malta. We look forward to sharing our success with our shareholders.

Got in this morning with a small initial trade at 244p - I'm slightly disappointed that so far the SP hasn't sprinted away. It seems as if MOG has been a little bit neglected so far and it may still be overlooked.

My trade took a while to be executed, so there may still be a bottleneck of orders at the MM's. The indicative spread of 8p and the fact that this co is already heavily held by institutions and other big boys* suggests that the MM's may be having trouble attaining the liquidity necessary to fill orders. It's all been buy side so far this morning. Interesting.

But I'm not quite willing to bet the entire house yet.

*My broker's figures for major shareholders are clearly not quite up to date - they actually show 102% of the 33.3 million shares in issue, having overlooked, for example, the fact that Mizuho cleared out of its 3.5 million holding at the end of Feb/beginning of March (doh!), but it proves the point that this one is already well-held.

It would be a pity if the potential of this one got stymied by liquidity problems.
Caveat Emptor.

Here's some consolation if it does take a while to come good though:

(from FT.com)

>> The Energy Information Administrations latest projections suggest that prospects for an improvement in global petroleum supply and demand balance were fading. The EIA warned on Tuesday that steady and continued growth in global oil demand combined with modest increases in capacity left little room to raise production in the event of geopolitical instability.

Oil prices should average $68 a barrel until at least the end of 2007, the US Department of Energy said in its latest monthly report. The estimates were raised from the last monthly report, in which the Department of Energy forecast average oil prices of $65 per barrel this year and $61 for 2007. <<

This needs more research, but the site I needed is currently down ....... In many ways, the company looks interetsing but my guess is that

1) It is extremely illiquid for there were only 127,000 shares traded on Friday, though the price still dropped 6% (11p) and the spread seems to be 10p.

2) The company only came to market 6 months ago, yet the price has risen 130% ..... Unless the founders were badly advised and the issue price was undervalued, then there is a distinct or strong possibility that the price has merely followed all the recent hype of oilies in general.

3) MOG cannot be compared in any way to VOG (sorry soul*).... It just isn't in the same league in operations, discoveries or, as far as I can see, prospects, albeit that VOG is operating in potential bandit country.

In conclusion and subject to the result that any further research may reveal, I would not be at all surprised to see a significant correction in the sp as many oilies are brought back to earth.

No offence taken, Cynic. You're right about illiquidity, but I think that long-term this has a lot of potential. Current production, albeit small, plus a broad portfolio mean this one ought to come good in the end.

Taking a hammering this morning though!!

confess i have seen far riskier bets than this one .... in fact, nms is greater than i thought at 5000, so i shall consider what next

Useful article on Oilbarrel today, by the way, summarising MOG's portfolio and prospects.

HERE

Thanks Soul* ...... Nice to see a new oilie with some proper producing assets ..... You have tempted me in there and await result of my offer to MMs!#

By the way, am I going to tempt you to join us in London for a get-together? ..... Prob 9th June - see thread

Cynic, that is very hospitable of you and downright jolly nice. I would love to - unfortunately I have a prior appointment with an endocrinologist, plus a possible reunion involving my ex-g/f and some other weird and wonderful characters I met while spending an amusing Christmastime in a German health clinic. Can't wait to (one day, hopefully), shift this chronic fatigue (see my profile) and get back to travelling and enjoying myself a bit more, and when that happens I shall hope to clink glasses with a few investors such as yourself.

There's also a chance I'll be returning to the UK in a few months' time - by no means definite, but it might make socialising with MoneyAM posters a bit more straightforward - I'll let you know what happens!

Welcome to MOG too!

PS - could you advise the title or "EPIC" of that thread as I can't see it at the mo. Thanks.

ST, tried to buy Eoagw this morning filled in a suitability form, but my broker said i need either a training certificate or a statement showing i have traded 6 times this
year which i haven't.

I am totally gutted! Now my only alternative is to either chose buying the shares
or buy MED OIL + GAS which should double it's Turnover this year.

At only 20 million cap plus production increase Europa should follow med oil Turnover wise.

Barclay, that's a stinker! Does your broker not also ask you for general trading experience (e.g. a couple of years should suffice)? I'm sorry this hasn't worked out for you.

New FSA rules state that you must have either traded warrants before or have a warrant certification. My broker enforces this strictly to my detriment.

I can't blame them though they are just covering their backs.
I will buy the shares and make 4 times less than you!

Ouch!

MOG staging a nice little rise this morning, and has been making up for the lost ground of a week or two ago.

taken from iii

E-mail SKINNER JP 1
13.14 Spoken to finacial PR company all their Meridian Petroleum account people are in a meeting. RNS WILL COME FROM THEM NOT DIRECT FROM Meridian...

Update from MOG. Good news due on the Ombrina Mare??



Mediterranean Oil & Gas Plc
12 June 2006

MEDITERRANEAN OIL & GAS PLC
('the Company' or 'MOG')



12 June 2006



AGM RESULTS, Appointment of director AND OPERATIONS UPDATE



The Company held its first Annual General Meeting on Friday 9 June. All
Resolutions put to the meeting were passed.



New Director Appointment



The Directors of Mediterranean Oil & Gas Plc (AIM: MOG) are pleased to announce
that with effect from 12 June 2006 Mr Michael Bonte-Friedheim has agreed to join
the Board as a Non-Executive Director.



Mr Bonte-Friedheim brings a wealth of expertise and experience in the energy
sector to the Company. Since 2003, he has been a managing director in the
investment banking division of Goldman Sachs International and prior to that was
an executive director in the Investment Banking Division of Morgan Stanley
International. Michael will be leaving Goldman Sachs International in the course
of 2006. He has broad expertise in the electricity, gas and utility sectors.



Mr Bonte-Friedheim has an MBA from INSEAD and is fluent in English, German,
Italian, Spanish and French.



There are no other requirements of AIM Rule Schedule 2(g) that fall to be
disclosed.



Operations Update



Malta Farm Out - Tristone Capital has been engaged to represent the Company and
manage the process of farming out an interest in Malta offshore Block 7 of Area
4.



Ombrina Mare - The Company is pleased to announce that it expects to complete
the reinterpretation of the recently acquired seismic and other data relating to
the Ombrina Mare Oil Discovery within the next 30 days. We will be in a position
to provide an update on Ombrina Mare's volumetrics based upon the
reinterpretation within that timeframe.



Serra San Bernado - a drilling location has been finalised and a final joint
venture decision to commit to drill the Monto Grosso prospect is expected by the
end of July.



ENDS

Mediterranean Oil & Gas Has An Appealing Profile For A Small Cap

Copied from oilbarrel.com
/www.oilbarrel.com/email_index.html?page=/news/article.html?body=1&key=oilbarrel_en:1165802442&feed=oilbarrel_en

11.12.2006
Mediterranean Oil & Gas Has An Appealing Profile For A Small Cap E&P Company With Production And Development Assets In Italy Plus Some Highly Prospective Exploration Acreage In Tunisia And Malta
Shares of Mediterranean Oil and Gas (MOG) were steadily climbing earlier in the year because investors like the profile. It had all the right ingredients they were looking for in a small cap exploration and production company. There are some production and development assets in Italy together with some highly prospective exploration acreage onshore Tunisia and offshore Malta. The sector setback caught up with the company and the shares cooled. But the fundamentals are still good and although the recently released results for the year ending June 30 2006 offered little in the way of fresh news, they did bring the profile into sharper focus.

Broker Equity Growth says the company has an onshore 2P reserve base of 22.9 million barrels of oil equivalent, split 20.9 million oil and 2.04 million natural gas. The broker says that what makes the company interesting is its prospective resource base of 15 million barrels of oil on a most likely basis and possibly in excess of 40 million boe. Around 95 per cent of the prospective resource base is concentrated in Maltese offshore waters. There is also an investment in a heavy oilfield in France.

Production is currently modest. It is around 2.5 million cubic feet a day and derives from MOGs 18 concessions in Italy. The concessions are either onshore or in shallow offshore water and are widely dispersed. The onshore resources are put at 6.7 bcf of gas or 1.1 million boe. But the output does mean good cash flow of around 600,000 gross per month, Executive Director Tony Trevisan told oilbarrel.com. This seems likely to grow since Italy has a voracious appetite for gas but domestic production only accounts for 15 per cent the total. MOG has an active development programme for the assets.

In addition the company has a 20 per cent stake in the Guendalina field in the northern Adriatic. This field, located about 25 kms offshore, is 80 per cent owned by ENI and is to be developed in conjunction with the latters nearby Amelia and Tea fields. ENIs most recent development plan has raised the most likely estimate of gas reserves in Guendalina from 455 million cubic metres (160 bcf) to 653 million cubic metres (230 bcf), an increase of 43 per cent. Production is due to start in 2009 and the indicated output level would double MOGs current mostly gas output level.

The companys primary development focus at present, though, is Ombrina Mare. The field is estimated by the Competent Persons Report to hold 20 million barrels on the best estimate net contingent basis. There are two satellite oil prospects and three gas prospects. The field was discovered in 1987 by Elf in shallow water offshore Italy. It was heavy oil and deemed uneconomic in the climate of the time. MOG has a development plan in place and if all goes well Ombrina Mare could be producing 8,000 barrels of oil a day by 2010. This would not all be net to MOG of course, but its share would be enough to catapult MOG into the ranks of middle tier producers.

Elsewhere in Italy there is an exciting exploration project in the Sierra San Bernardo permit area in the southern Apennines. MOG owns 20 per cent of Monte Grosso and is the operator of the project. The joint venture partners are ENI and Total. Based on a study by independent consultants, RPS Energy, the Monte Grosso prospect is sizeable, with resources of 121 million barrels (24 million barrels to MOG) on a best estimate basis. The joint venture partners have a development programme in place and drilling should start in 2007.

In 2006 the company acquired assets in Mediterranean Africa when it acquired a 25 per cent stake in the Medjerda concession in northern Tunisia. The operator is Range Petroleum with a 60 per cent interest. Medjerda has been subject to seismic and geological investigation since 1995 and several prospects and leads have been identified. The most prospective is the Teboursouk in the south of the concession. Range has estimated potential recoverable resources at a substantial 107 million barrels (26.8 million to MOG). A rig has been contracted to drill Teboursouk in late 2006 or early 2007.

The interest in France is an 11.5 per cent stake in the Grenade heavy oil project in the Aquitaine Basin of south-west France. The Grenade oilfield was originally discovered by Elf in 1975, but was never developed owing to the ultra-heavy nature of the oil at 10 degrees API. It is now believed that the application of modern enhanced recovery techniques could result in commercial flow rates and a viable operation at Grenade. Potentially the resource base is substantial, at 221 million barrels (24.6 million barrels to MOG).

But it is Malta that has really got analysts pulses racing. MOG has in excess of a substantial 5,000 sq kms of highly prospective acreage in offshore Maltese waters that offer the prospect of major finds. The acreage lies 100 to 150 kms off Malta in 300 to 350 metres of water and comprises Blocks 4, 5, 6 and 7 of Area 4 and is adjacent to the Libyan sector.

Lots of figures have been bandied around about the prospects. MOG has a 100 per cent interest in nine prospects which one broker has said could mean a 50 per cent chance of 1.5 billion barrels. But MOG will have to farm out to drill any prospect and there is not seismic to cover all the prospects. This is frontier stuff and with a 10 per cent chance the amounts of oil would drop dramatically. Taking everything into account though, consultants RPS has said on a most likely basis there could be 15 million barrels net to MOG. This kind of exploration is a binary bet. There could be nothing in these huge structures or there could be more than thought. Even so 15 million barrels is a lot of oil for a small company.
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Mog are presenting in London on he 10th April 2008!


http://www.proactiveinvestors.co.uk/eventregistration.php

Proactive Investors One2One Forums

Thursday the 10th April 2008

The directors of Meditterranean Oil & Gas (AIM:MOG)and Firestone Diamonds (AIM:FDI) will be hosting an investor presentation on Thursday the 10th April at 6pm with Q&A to follow.

After the presentations are complete the directors will also be available to take questions during a free canapand wine reception.

5:45pm for a prompt 6:00pm start at the Chesterfield Mayfair Hotel 35 Charles Street, Mayfair, W1J 5EB

THe nearest tube stations are Green Park, a 5 minute walk away, and Bond Street, about 7-8 minutes walk.

We look forward to your attendance. Please register using the link above.

If you have any problems with registering please contacting us here with all the neccessary details and we'll register you manualy

Just a quick reminder!


The directors of The directors of Meditterranean Oil & Gas (AIM : MOG), Enegi Oil Plc (AIM : ENEG), and Firestone Diamonds (AIM : FDI) are presenting at Proactiveinvestors this coming Thursday, in Mayfair, London, commencing at 18:00.

These are great evenings for the professional or private investor to attend, and the opportunity to chat informally afterwards with the directors, and fellow investors of all levels, is an opportunity not to be missed.


Registration and further details can be found here ;

http://www.proactiveinvestors.co.uk/eventregistration.php


Hope some of the posters here can attend, would be great to meet up.

New media article, click HERE