Mosman Oil and Gas Limited Six Month Production Summary (1392I)
August 10 2021 - 2:18AM
UK Regulatory
TIDMMSMN
RNS Number : 1392I
Mosman Oil and Gas Limited
10 August 2021
10 August 2021
Mosman Oil and Gas Limited
("Mosman" or the "Company")
Six Month Production Summary
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration,
development and production company, announces its production
summary for the six months ended on 30 June 2021.
Net Production attributable to Mosman for the six months was
12,143 boe, which was an increase of c 2,123 boe or c21% (on the
six months ended 31 December 2020). With this progress, combined
with higher sales prices, the acquisition of Nadsoilco (effective 1
July 2021) and an additional interest in Falcon, the future
production is now more robust and Mosman is looking forward to a
significantly improved production profile going forward.
Production Summary
6 Months to 6 Months to
30 June 2021 31 December 2020 (updated)
Total Project Net Attributable(1) Total Project Net Attributable
============== ==================== ============== =================
Gross boe(2) Net boe Gross boe Net boe
============== ==================== ============== =================
Falcon(3) 16,502 8,251 2,395 1,197
============== ==================== ============== =================
Stanley 20,327 3,312 24,982 3,984
============== ==================== ============== =================
Greater Stanley 652 155 936 187
============== ==================== ============== =================
Arkoma 2,706 425 896 171
============== ==================== ============== =================
Welch - - 5,845 4,481
============== ==================== ============== =================
Total boe 40,187 12,143 35,054 10,020
============== ==================== ============== =================
1. Net attributable production means net to Mosman's working interest before royalties
2. Gas production is converted into boe at a rate of 1boe = 5.8 MMBtu
3. Falcon production started on 11 December 2020
John W Barr, Chairman, said: "Mosman views this as a solid
result, entering the next period more confidently with an increased
working interest across our projects.
"Going forward we have taken the next step of delivering on our
strategy of production growth, achieved with the acquisition of
Nadsoilco and an additional 25% working interest in the Falcon-1
well. Both of these events occurred in July 2021 and are not
reflected in the numbers.
"The next step is to increase production with drilling imminent
with wells planned at Winters-2 and Stanley-5."
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has
been incorporated into UK law by the European Union (Withdrawal)
Act 2018. Upon the publication of this announcement via Regulatory
Information Service ('RIS'), this inside is now considered to be in
the public domain.
Enquiries:
Mosman Oil & Gas Limited John NOMAD and Broker
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 ETX
+44 (0) 20 3405 0205 Capital Thomas Smith
+44 (0) 7525 324431 020 7392 1432
mosman@almapr.co.uk
Updates on the Company's activities are regularly posted on its
website:
www.mosmanoilandgas.com
Definitions
boe or BOE barrels of oil equivalent
This is both oil and gas and includes
the gas converted to oil barrels using
a standard industry formula
Gross Sales Reference to sales is boe that has been
sold from the project throughout the period
================================================
Net Sales Attributable to Mosman's portion of Gross sales less royalties
Mosman owed to leaseholders
================================================
Total Gross Production boe produced on the project throughout
the period. Includes oil still held as
inventory
================================================
Net Production Attributable Mosman's portion of Total Gross Production
to Mosman before royalties owed to leaseholders
================================================
Total Project Basis Refers to performance of Sales or Production
on a
100% basis of the four projects that Mosman
has invested in.
================================================
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END
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