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RNS Number : 0361Q

Mosman Oil and Gas Limited

23 February 2021

23 February 2021

Mosman Oil and Gas Limited

("Mosman" or the "Company")

Updated Six Monthly Production

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development, and production company, announces an updated production summary for the six months ended 31 December 2020, following receipt of additional production data on its Falcon and Arkoma projects in the USA.

The original report, announced on 14 January 2021, was based on data available at that time from the operators of each project. Net Production attributable to Mosman for the six months now stands at 9,871 boe (compared to 8,650 boe as previously announced).

Production Details

 
                    6 Months to    6 Months to       6 Months to       6 Months to 
                    31 December    31 December       31 December       31 December 
                           2020           2020              2020              2020 
 
                        UPDATED       ORIGINAL           UPDATED          ORIGINAL 
                  Total Project  Total Project  Net Attributable  Net Attributable 
                  =============  =============  ================  ================ 
                    Gross boe      Gross boe        Net boe           Net boe 
                  =============  =============  ================  ================ 
Falcon*                   2,191              -             1,096                 - 
                  =============  =============  ================  ================ 
Stanley                  24,982         24,982             3,984             3,984 
                  =============  =============  ================  ================ 
Greater Stanley             936            926               187               185 
                  =============  =============  ================  ================ 
Arkoma                      615              -               123                 - 
                  =============  =============  ================  ================ 
Welch**                   5,845          5,845             4,481             4,481 
                  =============  =============  ================  ================ 
 
  Total boe              34,569         31,753             9,871             8,650 
                  =============  =============  ================  ================ 
 

Net production means net to Mosman's working interest before royalties

* Falcon production started on 11 December.

** Welch has now been sold

John W Barr, Chairman of Mosman commented : "The updated production report shows the significant benefit of Falcon-1 production, noting that Mosman only benefitted from production from 11 December 2020. With drilling planned at Stanley, Champion and/or Challenger projects we anticipate further increases to our production in the coming months and have an objective to be involved in at least four new wells in 2021 subject to funding and other matters."

Qualified Person's Statement

The information contained in this announcement has been reviewed and approved by Andy Carroll, Technical Director for Mosman, who has over 35 years of relevant experience in the oil industry. Mr. Carroll is a member of the Society of Petroleum Engineers.

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

Technical Glossary

 
  BBLs or bbls     Barrels 
 BOPD or bopd      barrels of oil per day 
                  =============================================== 
 BOEPD or boepd    barrels of oil equivalent per day calculated 
                    on the approximate 1:6 basis of the calorific 
                    value of the hydrocarbons, (not based 
                    on the price) 
                  =============================================== 
 MMCFPD or mmcfd   Million cubic feet per day 
  MMBTU 
                    Million British Thermal Units 
                  =============================================== 
 

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END

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February 23, 2021 05:03 ET (10:03 GMT)