I'd say those goals are unreasonable for anybody at any age. You could do the fat loss goal though, but not the muscle mass goal, especially not at the same time.
Just stay in a fat loss phase until you are not fat anymore, I'd say get below 15%BF at the least, you'll probably want to do more.
As for you workout plan, well it's not the sort of thing I'd like to do, but it will likely be fine for your fat loss purposes. I'm hardly an expert on fat loss(as I have never had to do it before), but pretty much you need to burn more calories than you expend, but consuming less, or expending more.
As for your workout plan, I'd say look into Chad Waterbury's routines on t-nation.com, as well as Alwyn Cosgroves workouts in NROL(new rules of lifting), and some of his articles:
TESTOSTERONE NATION - Complexes for Fat Loss
TESTOSTERONE NATION - The Hierarchy of Fat Loss