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    Australian Business Number: 56 003 329 084
    3rdFloor Phone: (02) 9247 9324 6-8 Underwood Street Fax: (02) 92411655 Sydney NSW 2000

    19thSeptember 2005
    AUSTRALIAN STOCK EXCHANGE ANNOUNCEMENT Further to its release to the ASX on 8 August 2005, the Board of Mosaic Oil NL announces that it continues to be in confidential discussions with a potential investor. The Board has also received approaches from other potential investors. The Board has appointed Patersons Securities Limited
    to advise the company in relation to these matters. The Board will inform the market further when appropriate. For further information contact: Phone: (02) 9247 9324 Lan Nguyen - CEO or Steven McDowell - Company Secretary
 
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