Ann: Half-Year Financial Report and Directors' Report 31 Dec 2014, page-16

The following is an extract from Mosman's 31 Dec 2014 half year financial report in which their auditor Somes and Cook state the following on pp# 19 "Conclusion
Based on our review, which is not an audit, we have not become aware of any matter that makes us
believe that the half-year financial report of Mosman Oil and Gas Limited is not in accordance with the
Corporations Act 2001 including:
(a) giving a true and fair view of Mosman Oil and Gas Limited’s financial position as at 31
December 2014 and of its performance for the half-year ended on that date; and
(b) complying with Accounting Standard AASB 134 Interim Financial Reporting and the
Corporations Regulations 2001.
Emphasis of Matter – Inherent uncertainty regarding continuation as a going concern
Without modifying our conclusion, we draw attention to Note 1, which outlines that the Group had a
working capital surplus of $1,063,539 as at 31 December 2014, and had cash outflows from operating
activities of $1,380,670 for the half-year then ended.
As a result, there is a material uncertainty related to events or conditions that may cast significant doubt
on the company’s ability to continue as a going concern, and therefore whether it will realise its assets
and extinguish its liabilities in the normal course of business and at the amounts stated in the financial
report."