16 February 2024
Mosman Oil and Gas
Limited
("Mosman"
or the "Company")
Production Increase at Stanley
Mosman Oil and Gas Limited (AIM: MSMN) the
hydrocarbon, helium and hydrogen exploration, development, and
production company, provides an update on its Stanley project in
the US (34.85% to 38.5% WI) where the recent gross production has
increased to circa 93 bopd (five-day average flow rate). This is a
material improvement from the recently notified December quarter
gross average flow rate of 43 bopd.
This has been achieved following a period of
production equipment reconfiguring and optimisation, including the
installation of surface and downhole equipment to boost production
with jet pumps. Whilst this increased production rates, it also
introduced an issue of fine sand production. Initially this was
managed by screens, but the sand blocked the screens and resulted
in periodic shut-downs. The issue has now been resolved by using
settling tanks.
The Company will provide details on all the
production at all assets as part of its March 2024 quarter update
expected to be announced by early May 2024.
Andy Carroll, CEO of Mosman
commented: "I am pleased that the continued work on the Stanley project
is now achieving stronger production numbers.
"This flow rate is positive for
commercialisation of the asset through ongoing cashflow or sale of
the asset."
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
information is now considered to be in the public domain.
Enquiries:
|
Mosman Oil & Gas Limited
Andy Carroll
CEO
acarroll@mosmanoilandgas.com
|
NOMAD and Joint Broker
SP Angel Corporate Finance
LLP
Stuart Gledhill / Richard Hail /
Adam Cowl
+44 (0) 20 3470 0470
|
|
Alma
Justine James / Will
Merison
+44 (0) 20 3405 0205
+44 (0) 7525 324431
mosman@almastrategic.com
|
Joint Broker
CMC Markets UK Plc
Douglas Crippen
+44 (0) 020 3003 8632
|
Updates on the Company's activities
are regularly posted on its website: www.mosmanoilandgas.com
Notes to editors
Mosman (AIM: MSMN) is an oil exploration,
development, and production company with projects in the US and
Australia. Mosman's strategic objectives remain consistent: to
identify opportunities which will provide operating cash flow and
have development upside, in conjunction with progressing
exploration of existing exploration permits. The Company has
several projects in the US, in addition to exploration projects in
the Amadeus Basin in Central Australia.