- Mosman Oil & Gas said it had sold its Welch asset in Texas to Eagle Natural Resources LLC for $0.3m.

The sale comes as the company previously announced that it was narrowing its focus to other assets in Texas.

'Whilst the Welch oil field is producing and has development potential, the ranking of projects in the strategic review identified better growth assets at Stanley and Greater Stanley,' Mosman said.

'The capital from the sale of Welch will facilitate investment in these growth areas, as well as providing working capital at a time when cash flow is adversely affected by the low oil price.'

At 9:51am: [LON:MSMN] Mosman Oil And Gas Ltd share price was +0.03p at 0.17p

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