Mosaic reaches 2147m at Churchie-11 well May 20, 2009

Mosaic Oil NL (ASX: MOS) advises that the Churchie-11 gas/condensate development well (PL 192, Surat-Bowen Basin, Qld, MOS-100%) has reached a depth of 2147 metres. 7” casing has been run and cemented at 2146.9 metres. Rigging up for nitrogen drilling has been delayed due to wet weather conditions that have restricted the movement of equipment to the well. It is expected to take another 4 days to reach total depth once operations are able to resume.

Churchie-11 is located on the western flank of the Churchie Field, approximately 700 metres from the Churchie Plant, ensuring that it can be connected quickly for production if successful.

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For further information contact:

Mosaic Oil: Tim Petersen – Acting Chief Executive Officer on 02 9247 9324

Media: Bill Kemmery – Fortbridge on (02) 9331 0655, mob 0400 122 449, email bill.kemmery@fortbridge.com