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300% share price gain on US oily
AIM-quoted Mosman Oil & Gas (MSMN:AIM) raised eyebrows when it trebled to 2p a share on the morning of Donald Trump’s election victory.
As well as signing a deal to buy an oil well in Texas, shares may have been boosted by the President-elect’s support for fossil fuels, the FT reported. Australia-based Mosman is paying $1m for the Pine Mills well which has produced over 12m barrels of oil since it was discovered in the 1950s.