11/11/2002 11:54:48 Mosaic/Santos Gas at Churchie gets Queensland Govt Approval
MOSAIC OIL NL 2002-11-11 ASX-SIGNAL-G
HOMEX - Sydney
+++++++++++++++++++++++++ The Queensland Government has approved a 23 year Production Licence for the development and sale of gas from the Mosaic/Santos Churchie gas field.
Interests in the field are Santos Group 51% and Mosaic Oil 49%.
Mosaic Oil and Santos Limited welcomes the award of the Production Licence covering an area of 92 sq kms over the whole Churchie and Noorindoo gas complex.
Still before the Department of Natural Resources and Mines is a Pipeline Licence Application to build a 6 kilometre pipeline to connect the Churchie gas field with the Queensland gas grid. Mosaic Oil has already advised the ASX and shareholders that all submissions for that pipeline have been completed satisfactorily to the company's knowledge.
Once received it is believed that it will take less than 5 months before Mosaic and Santos will be delivering gas from the field.
Mosaic Oil NL (MOS) has already stated that Churchie 3 will double its current gas sales.
The Mosaic-Santos Joint Venture is examining plans and engineering for the construction of a gas pipeline to a central gathering point within the Churchie production licence. Any additional successful development wells will link at this gathering point.
Mosaic-Santos JV is planning to re-drill Churchie #1 well with the now proven nitrogen drilling unit as soon as possible.
Dr H Brady CEO
For any enquiries re this announcement, please ring: