Mosman Oil and Gas Limited Stanley Operations Update (5075N)
February 01 2021 - 1:00AM
UK Regulatory
TIDMMSMN
RNS Number : 5075N
Mosman Oil and Gas Limited
01 February 2021
1 February 2021
Mosman Oil and Gas Limited
("Mosman" or the "Company")
Stanley Operations Update
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration,
development and production company, announces an operations update
for the Stanley project in East Texas.
Stanley
The average gross production rate in the last week was 210
barrels of oil per day ("bopd") compared to the daily average gross
production for the six months ending 31 December 2020 of 139
bopd.
Stanley-3 and Stanley-4 continue to produce oil without
artificial lift. Stanley-3 is averaging a rate of circa 50 bopd
(gross) and Stanley-4 circa 120 bopd (gross).
The second-hand pump-jack installed at Stanley-2 is now fully
operational, after some initial problems with the motor that
required replacing. In the last week this well has averaged over 40
bopd (gross).
A workover on Stanley-1 commenced prior to the installation of
an additional second-hand pump-jack that has already been
purchased. Flow rates will be advised once stable flow has been
re-established.
Based on discussions with Mosman's JV partners, it is still
anticipated that Stanley-5 will be drilled in the second quarter of
the calendar year, and after Stanley-1 is fully back on
production.
Mosman's working interest in the Stanley wells varies from 16 to
18%.
John W Barr, Chairman of Mosman commented : "Mosman has clearly
set out a vigorous operational agenda for 2021, and the workovers
at Stanley are an essential element to maintaining strong
production.
"As stated previously, Mosman has opportunities to participate
in several potential wells in 2021.
The candidates for drilling include two wells at the Stanley
project and other wells in East Texas, including wells at Cinnabar
and the Galaxie well.
"The exact order and timing of wells has not been finalised and
depends on the results of
completion of the current round of detailed technical work."
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
Enquiries:
Mosman Oil & Gas Limited NOMAD and Joint Broker
John W Barr, Executive Chairman SP Angel Corporate Finance LLP
Andy Carroll, Technical Director Stuart Gledhill / Richard Hail
jwbarr@mosmanoilandgas.com / Adam Cowl
acarroll@mosmanoilandgas.com +44 (0) 20 3470 0470
Alma PR Joint Broker
Justine James Monecor (London) Ltd trading as
+44 (0) 20 3405 0205 ETX Capital
+44 (0) 7525 324431 Thomas Smith
mosman@almapr.co.uk +44 (0) 20 7392 1432
Updates on the Company's activities are regularly posted on its
website: www.mosmanoilandgas.com
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END
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