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Early Churchie cash flow for Mosaic

Mosaic is looking for early cash flow after announcing gas from the Churchie-3 well should flow i...

The gas will flow via a recently completed 5km pipeline that will be connected to the Wallumbilla-to-Silver Springs pipeline, currently being upgraded, which will then supply gas to south Queensland.

Mosaic told the market a gas gathering station with gas separation and dehydration capabilities has also been completed at the Churchie field.

Mosaic has also announced a net profit of $226,000 on revenue of $4.8 million for the first half of this financial year. Mosaic said revenue was helped by higher oil prices but the price of LPG was lower than the corresponding period in 2001.

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