http://www.proactiveinvestors.co.uk Proactiveinvestors RSS feed en Thu, 16 Aug 2018 09:11:16 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Joint Broker Appointment ]]> http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180802081156_13741170/ Thu, 02 Aug 2018 08:11:56 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180802081156_13741170/ <![CDATA[Media files - Mosman Oil & Gas hits multiple pay zones at Stanley Development well ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/10006/mosman-oil-gas-hits-multiple-pay-zones-at-stanley-development-well-10006.html Wed, 01 Aug 2018 11:19:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/10006/mosman-oil-gas-hits-multiple-pay-zones-at-stanley-development-well-10006.html <![CDATA[News - Mosman Oil and Gas hails Texas wells as a success after hitting multiple pay zones ]]> http://www.proactiveinvestors.co.uk/companies/news/201982/mosman-oil-and-gas-hails-texas-wells-as-a-success-after-hitting-multiple-pay-zones-201982.html Mosman Oil And Gas Limited (LON:MSMN) shares rose on Wednesday as the explorer hailed the successful completion of the Stanley Development well in Texas, which hit multiple pay zones.

Stanley-1’s primary reservoir was host to gross pay (an oil-bearing section) 19 metres thick with a porosity of around 18%. Porosity defines the capacity of the reservoir rock to hold oil.

Mosman said drill log data was better than expected and sees no reason to change pre-drill forecast for an initial flow rate of around 150 barrels a day.

WATCH: Mosman Oil & Gas hits multiple pay zones at Stanley Development well

The next step is to install production facilities, which should take one to two months before the well is completed as a producer.

The AIM-listed exploration group said the well completion secured its 16.5% interest in the Livingston Oil Field and added that further development drilling would be considered in “due course”.

Stanley-1 was the first well drilled as part of its strategic alliance with Texas-based Baja Oil & Gas.

Partner owns substantial inventory

Mosman said the US group owns “a substantial existing inventory” of oil and gas development projects and is continuing to add projects to the inventory.

Under the terms of the deal, the UK oiler has the option to invest in future projects.

On Monday, Mosman said that a workover programme significantly boosted output from the Welch project, also in Texas.

Looking for new opportunities 

"Mosman continues to pursue its strategic objective to identify opportunities which will provide operating cash flow and have development upside, in conjunction with exploration of existing exploration permits,” said chairman John Barr.

"The success at Stanley and the recent production increases at Welch reinforce this policy.

"We are pleased Stanley will be completed and add to Mosman's existing production.

“We are also encouraged with this successful validation of the investment decision and the strategic alliance with Baja."

In late afternoon trading. Mosman shares were 3.7% higher at 0.7p, easing back from an intraday peak of 0.88p.

 -- Adds share price --

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Wed, 01 Aug 2018 07:29:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/201982/mosman-oil-and-gas-hails-texas-wells-as-a-success-after-hitting-multiple-pay-zones-201982.html
<![CDATA[RNS press release - Successful drilling at Stanley completed ]]> http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180801070006_13738777/ Wed, 01 Aug 2018 07:00:06 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180801070006_13738777/ <![CDATA[News - Mosman Oil and Gas soars as work-overs boost production at the Welch project ]]> http://www.proactiveinvestors.co.uk/companies/news/201806/mosman-oil-and-gas-soars-as-work-overs-boost-production-at-the-welch-project-201806.html Mosman Oil And Gas Limited (LON:MSMN) said three more wells at the Welch project have been worked over in July and restored to production.

In the first 27 days of July production at Welch was 1,180 barrels, of which 896 barrels was attributable to Mosman. This represents an average aggregate production (before royalties) of around 44 barrels per day. The previous six month average of circa 24 barrels per day had been below well capacity as water injection pump repairs had limited well production.

READ: Mosman Oil and Gas reports reserves for Welch project

Mosman said the increase in production at the Welch Permian basin project in Texas, is directly attributable to the recent work-overs and repairs completed in early July. Mosman has now asked its consultants to consider any further wells that can be repaired in the near-term.

“We proceeded with the repairs as a result of obtaining funding from the recent placement and the repairs have resulted in an immediate effect on production. This is an encouraging evidence that Mosman continues to achieve its strategic objectives to build a strong production base," said John Barr, Mosman’s chairman.

Shares of Mosman were up 23.2% at 0.77p in early deals.

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Mon, 30 Jul 2018 08:12:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/201806/mosman-oil-and-gas-soars-as-work-overs-boost-production-at-the-welch-project-201806.html
<![CDATA[RNS press release - Production almost doubles at Welch Project ]]> http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180730070750_13735255/ Mon, 30 Jul 2018 07:07:50 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180730070750_13735255/ <![CDATA[News - Mosman Oil and Gas extends deadline for increasing Arkoma stake ]]> http://www.proactiveinvestors.co.uk/companies/news/201518/mosman-oil-and-gas-extends-deadline-for-increasing-arkoma-stake-201518.html Mosman Oil And Gas Ltd (LON:MSMN) has extended the deadline for its option to increase its stake in the Arkoma field, where new well flow data is awaited to reflect the impact of work-over programmes.

Pumps have been previously been installed to two wells, though operations were initially delayed by weather and have subsequently also been impacted by water injection issues.

READ: Mosman Oil and Gas updates on Stanley-1 well drilling

Following further upgrade work, the wells are gradually being brought into production but Mosman expects it may take some time to establish steady flow rates.

As steady rates have yet to be seen the company agreed with its partner that the exercise date for its second option, to increase Mosman’s stake to 33% from 27%, is extended out to the end of September.

This will allow time for at least 30 days of steady production, Mosman said.

It means the partners can also meet to discuss a number of other matters including field performance, optimization, operatorship, field development planning and budgets.

"We remain upbeat about Arkoma, but as a board we must monitor each project and make decisions based on the best and most complete information available, and we look forward to getting the data we need to make that decision as part of future plans for the Arkoma field," said John Barr, Mosman chairman.

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Wed, 25 Jul 2018 08:08:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/201518/mosman-oil-and-gas-extends-deadline-for-increasing-arkoma-stake-201518.html
<![CDATA[RNS press release - Arkoma: 27% WI with option to increase to 33.3% ]]> http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180725070006_13730024/ Wed, 25 Jul 2018 07:00:06 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180725070006_13730024/ <![CDATA[News - Mosman Oil and Gas updates on Stanley-1 well drilling ]]> http://www.proactiveinvestors.co.uk/companies/news/201222/mosman-oil-and-gas-updates-on-stanley-1-well-drilling-201222.html Mosman Oil And Gas Ltd (LON:MSMN) has updated investors on the Stanley-1 well which continues to be drilled.

The company told investors that drilling began on Thursday and it expects the planned depth of 7,000 feet will be reached within the next two weeks.

WATCH: Mosman Oil & Gas announces strategic alliance

"Mosman keenly awaits the drilling results which are designed to add to the company’s production profile," said John Barr, chairman.

The Stanley programme is the first well under the group’s recently agreed strategic alliance with Baja Oil and Gas.

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Fri, 20 Jul 2018 08:19:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/201222/mosman-oil-and-gas-updates-on-stanley-1-well-drilling-201222.html
<![CDATA[RNS press release - Stanley Drilling Project Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180720073256_13725412/ Fri, 20 Jul 2018 07:32:56 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180720073256_13725412/ <![CDATA[News - Mosman Oil and Gas looks forward to new drilling ]]> http://www.proactiveinvestors.co.uk/companies/news/201036/mosman-oil-and-gas-looks-forward-to-new-drilling-201036.html Mosman Oil And Gas Ltd (LON:MSMN) told investors that it will participate in a new drill programme, at the Stanley development, onshore Texas.

The company has agreed a new strategic alliance with Baja Oil & Gas, a privately-owned company, which has a substantial existing inventory of projects.

It will see Mosman participate in the evaluation of future projects, starting with Stanley.

WATCH: Mosman Oil & Gas announces strategic alliance

The Stanley well will be located in the Livingston Oilfield, Polk County, Texas. Drilling is set to start during July and August. Stanley’s primary objective is to produce oil from the Eocene aged Wilcox sands found productive in the area.

Mosman has acquired a 16.5% working interest in the Stanley project, by agreeing to pay 22% of the well’s costs - which, based on a fixed cost drill contract, are estimated at US$95,000, plus a further US$40,000 to complete and install production facilities.

If the well is successful, it is expected to yield 150 barrels of oil per day gross.

"While the near term focus for Mosman remains its existing US production projects and Australian exploration portfolio, the opportunity with Baja could not be ignored given the low entry cost and potential production numbers,” said John Barr, Mosman chairman.

“Baja management are a very experienced team, including time at BHP Petroleum when Mosman's US based operations manager Mr.Howard Mclaughlin was Head of Global Exploration."

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Wed, 18 Jul 2018 09:22:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/201036/mosman-oil-and-gas-looks-forward-to-new-drilling-201036.html
<![CDATA[Media files - Mosman Oil & Gas announces strategic alliance - drilling to begin in August ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/9883/mosman-oil-gas-announces-strategic-alliance-drilling-to-begin-in-august-9883.html Wed, 18 Jul 2018 08:00:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/9883/mosman-oil-gas-announces-strategic-alliance-drilling-to-begin-in-august-9883.html <![CDATA[RNS press release - US Dev Drilling Project & New Strategic Alliance ]]> http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180718073213_13722041/ Wed, 18 Jul 2018 07:32:13 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180718073213_13722041/ <![CDATA[News - Mosman Oil and Gas jumps as it reports a sales revenue increase of almost 200% ]]> http://www.proactiveinvestors.co.uk/companies/news/200946/mosman-oil-and-gas-jumps-as-it-reports-a-sales-revenue-increase-of-almost-200-200946.html Mosman Oil And Gas Limited (LON:MSMN) saw its shares jump in lunchtime trading Tuesday after reporting an almost 200% increase in sales revenue in the six months to 30 June 2018.

In a production update for the period, the AIM-listed oiler reported sales revenue of US$534,000, a 191% increase on the previous six month period, while net production attributable to the company increased 35% to 4,417 barrel of oil equivalent (boe).

WATCH: Welch proving to be a 'star performer' as Mosman Oil And Gas increases production

The company added that total gross production across all of its underlying acreage on a total project basis was 12,260 boe over the period, a 28% increase on the prior period.

Mosman also said it expected production and sales numbers to continue to grow strongly due to rod replacements and potential horizontal wells at its Welch Permian Basin project in Texas as well as new electric submersible pumps (ESPs) at the Arkoma Stacked Pay project in Oklahoma.

Regarding the Welch wells, the firm said a final decision was subject to completion of its economic evaluation, a development plan, permitting, prevailing economic conditions and funding alternatives, adding that it was also in discussions with the Texas Rail Road Commission to secure well approvals with an investment decision due later this year.

At Arkoma, in which it holds a 27% stake, Mosman said the recently installed ESPs at two wells at the site had been disrupted by weather events and water injection issues. Following the upgrade work to the water injection facilities, the wells would be brought on production but it would take time to establish steady flow rates.

READ: Arkoma operations temporarily disrupted by thunderstorms, says Mosman Oil and Gas

The only decline in production was at the company’s Strawn project in Texas, in which it holds a 50% stake, where production for the six months declined 11.5% to 608 barrels.

John W Barr, chairman of Mosman, said: "If production at existing projects is maintained, and we achieve the planned success at Welch and Arkoma, production from could see a further significant increase over current levels. The task now is to continue to develop Mosman to achieve that success."

Mosman shares were up 42.1% at 0.6p.

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Tue, 17 Jul 2018 12:17:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/200946/mosman-oil-and-gas-jumps-as-it-reports-a-sales-revenue-increase-of-almost-200-200946.html
<![CDATA[Media files - Welch proving to be a 'star performer' as Mosman Oil And Gas increases production ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/9871/welch-proving-to-be-a-star-performer-as-mosman-oil-and-gas-increases-production-9871.html Tue, 17 Jul 2018 11:24:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/9871/welch-proving-to-be-a-star-performer-as-mosman-oil-and-gas-increases-production-9871.html <![CDATA[RNS press release - July 2018 Operations Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180717100102_13720603/ Tue, 17 Jul 2018 10:01:02 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180717100102_13720603/ <![CDATA[News - Arkoma operations temporarily disrupted by thunderstorms, says Mosman Oil and Gas ]]> http://www.proactiveinvestors.co.uk/companies/news/199944/arkoma-operations-temporarily-disrupted-by-thunderstorms-says-mosman-oil-and-gas-199944.html Heavy thunderstorms have temporarily disrupted operations at Mosman Oil And Gas Limited’s (LON:MSMN) Arkoma project in Oklahoma.

Mosman currently has a 27% working interest in the project, although it can choose to increase this to 33.3% at the end of this month (July).

Inland, the operator at Arkoma, recently installed two electrical submersible pumps with the aim of producing simultaneously from several zones.

READ: Arkoma sees first flow after ESP installation

But there were some initial delays due to damage caused by rain. The storms have now passed, and the results so far have been “encouraging” with the wells flowing variable amounts of oil, gas and water.

That said, the wells have “certainly not yet achieved a steady production state”, which will be a key factor when Mosman makes its decision.

The company expects steady state production can be achieved once the power supply is fully and consistently restored.

“The focus for Mosman at Arkoma is the 31 July decision point for exercising the option to increase ownership to 33.3%. The current electric storm delays and related damage are very unfortunate, but we believe the disruption is temporary,” said chairman John Barr.

“Despite weather related delays, Mosman is hopeful that steady state production will be established in good time for the option exercise decision to be made.”

Mosman shares rose 5.3%  to 0.5p on Monday morning.

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Mon, 02 Jul 2018 09:53:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/199944/arkoma-operations-temporarily-disrupted-by-thunderstorms-says-mosman-oil-and-gas-199944.html
<![CDATA[RNS press release - Arkoma Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180702070005_13700541/ Mon, 02 Jul 2018 07:00:05 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180702070005_13700541/ <![CDATA[News - Mosman Oil and Gas sees first flows after Arkoma programmes ]]> http://www.proactiveinvestors.co.uk/companies/news/197981/mosman-oil-and-gas-sees-first-flows-after-arkoma-programmes-197981.html Mosman Oil And Gas Limited (LON:MSMN) told investors that it has now seen the first flow of fluids following the installation of two Electrical Submersible Pumps at the Arkoma project in Oklahoma.

The company said that it is too early to provide oil or gas measurements, though stabilised flow rates are due at the end of June.

READ: Mosman Oil and Gas raises £600,000 to accelerate production growth

Flow data will inform the company’s decision over its option to potentially increase its stake in the Arkoma project to 33.3% from 27% on or before July 31.

"We are pleased with the on-schedule progress at Arkoma and look forward to seeing flow rates in June,” said John Barr, Mosman chairman.

“This is a key stage of field development and flow data will help to determine full field development, as well as providing production and cash flow from Arkoma. In the meantime, we are enjoying production and strong oil prices at Strawn and Welch."

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Thu, 31 May 2018 07:23:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/197981/mosman-oil-and-gas-sees-first-flows-after-arkoma-programmes-197981.html
<![CDATA[RNS press release - Arkoma Project Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180531070006_13660730/ Thu, 31 May 2018 07:00:06 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180531070006_13660730/ <![CDATA[News - Mosman Oil And Gas updates on pending relaunch of GEM International ]]> http://www.proactiveinvestors.co.uk/companies/news/197894/mosman-oil-and-gas-updates-on-pending-relaunch-of-gem-international-197894.html Mosman Oil And Gas Ltd (LON:MSMN) told investors that it expects GEM International Resources Inc (CVE:GI) will have its suspension lifted on the trading of its shares.

The AIM-quoted junior oiler has a shareholding in GEM which has now completed financial reports and other corporate requirements necessary to resume its listing in Canada.

READ: Mosman Oil and Gas raises £600,000 to accelerate production growth

Additionally, at an AGM on Tuesday, the 2017 financial statements were approved along with proposals for a capital reorganisation (a 1-for-10 share consolidation) and a relaunch under the new name Norseman Capital Limited.

It is also anticipated that, as Norseman, the company will seek to introduce new capital which would support new ventures .

Mosman chairman John Barr, who is presently interim chief executive at GEM, is expected to step down from his role at GEM over the coming months, meanwhile, it will also review its shareholding in GEM.

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Wed, 30 May 2018 07:52:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/197894/mosman-oil-and-gas-updates-on-pending-relaunch-of-gem-international-197894.html
<![CDATA[RNS press release - Update on Gem International Resources Inc. ]]> http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180530070008_13658921/ Wed, 30 May 2018 07:00:08 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180530070008_13658921/ <![CDATA[News - Mosman Oil and Gas raises £600,000 to accelerate production growth ]]> http://www.proactiveinvestors.co.uk/companies/news/197795/mosman-oil-and-gas-raises-600000-to-accelerate-production-growth-197795.html Mosman Oil And Gas Limited (LON:MSMN) has raised £600,000 of additional capital through a share placing with the new funds.

It is issuing 109mln new shares at a price of 0.55p each.

The company told investors that it is now focussing on maximising the delivery of short and medium-term benefits from its projects.

WATCH: Mosman Oil & Gas confirms reserves at Arkoma and Welch projects

Moreover, amid the strong oil price, it intends to accelerate efforts to increase production at the Welch project.

Cash proceeds will support well workovers at Welch, driving more additional wells to come online.

It will also cover feasibility work for possible horizontal wells, and allow long lead items to be acquired ahead of a horizontal drilling programme.

Separately, the cash will allow Mosman to increase its stake in the Arkoma project, to 33.3% from 27%.

“Mosman has decided at this time an equity issue is preferred by the company rather than a debt facility,” the company said in a statement.

“Going forward the company expects to consider a range of funding alternatives when evaluating the horizontal wells at Welch, or longer-term development of the Arkoma project.”

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Tue, 29 May 2018 07:58:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/197795/mosman-oil-and-gas-raises-600000-to-accelerate-production-growth-197795.html
<![CDATA[RNS press release - Issue of Equity ]]> http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180529073319_13657510/ Tue, 29 May 2018 07:33:19 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180529073319_13657510/ <![CDATA[RNS press release - Issue of Equity ]]> http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180529070256_13657180/ Tue, 29 May 2018 07:02:56 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180529070256_13657180/ <![CDATA[Media files - Mosman Oil & Gas confirms reserves at Arkoma and Welch projects ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/9141/mosman-oil-gas-confirms-reserves-at-arkoma-and-welch-projects-9141.html Wed, 25 Apr 2018 12:35:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/9141/mosman-oil-gas-confirms-reserves-at-arkoma-and-welch-projects-9141.html <![CDATA[RNS press release - Second Price Monitoring Extn ]]> http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180425090543_13617868/ Wed, 25 Apr 2018 09:05:43 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180425090543_13617868/ <![CDATA[RNS press release - Price Monitoring Extension ]]> http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180425090020_13617864/ Wed, 25 Apr 2018 09:00:20 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180425090020_13617864/ <![CDATA[News - Mosman Oil and Gas marks reserves at Arkoma project ]]> http://www.proactiveinvestors.co.uk/companies/news/195717/mosman-oil-and-gas-marks-reserves-at-arkoma-project-195717.html Mosman Oil And Gas Ltd (LON:MSMN)  has released the findings of Moyes & Co, which has confirmed the Arkoma Stack Pay project’s reserves.

The project has been confirmed to have gross proved and probable (2P) reserves of 336,000 barrels oil equivalent, along with 2.4mln barrels of contingent resources.

Net to Mosman, the 2P reserves amount to 64,000 boe. The company values its net 2P reserves at US$1.23mln.

WATCH: Mosman Oil & Gas confirms reserves at Arkoma and Welch projects

Mosman will now use the reserves report and the field’s ongoing production record as it makes a decision over its option to potentially increase its stake in the project (it has until July 31 to increase its holding to 33.3% from 27%).

"Arkoma continues to meet the stated strategy of delivering operating cash flow and having development upside,” said John Barr, Mosman chairman.

"It is very encouraging to have Proved Reserves at this early stage of development.

“We have now funded the agreed operational upgrades and, in the coming months, will evaluate operational data following the installation and operation of Electric Submersible Pumps (ESPs) planned for May 2018.”

Barr added: "We are also encouraged by an independent expert confirmation of the significant Probable Reserves and Resources that attracted us to this project in the first place.

“There is a lot of room for growth in this project.”

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Wed, 25 Apr 2018 08:02:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/195717/mosman-oil-and-gas-marks-reserves-at-arkoma-project-195717.html
<![CDATA[RNS press release - Arkoma Project Proved Reserves ]]> http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180425073737_13617659/ Wed, 25 Apr 2018 07:37:37 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180425073737_13617659/ <![CDATA[News - Mosman Oil and Gas reports reserves for Welch project ]]> http://www.proactiveinvestors.co.uk/companies/news/195231/mosman-oil-and-gas-reports-reserves-for-welch-project-195231.html Mosman Oil And Gas Ltd (LON:MSMN) has reported reserves for the Welch permian basin basin project in Texas.

Proved reserves (1P) amounted to 234,000 barrels gross for the field. It comprises 109,000 barrels classified as being ‘Proved Developed Producing’ or PDP reserves, while the field is also seen to have 102,000 barrels of proved un-developed reserves.

READ: Mosman Oil and Gas in demand ahead of key reports

"Welch meets the stated strategy of delivering operating cash flow and having development upside,” said John Barr, Mosman chairman.

"We are pleased to achieve this milestone of Proved Reserves that underpins our view that Welch was a sound acquisition, at the right time, and where we have added value in less than 12 months. 

“Importantly, the Proved Reserves identified at Welch should provide a basis for being able to obtain bank debt to assist in funding further production growth.

“Looking forward at Welch, we continue to evaluate horizontal wells with the objective of having a development plan to put before the Board later in 2018."

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Wed, 18 Apr 2018 08:07:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/195231/mosman-oil-and-gas-reports-reserves-for-welch-project-195231.html
<![CDATA[RNS press release - Welch Project Proved Reserves ]]> http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180418071042_13608790/ Wed, 18 Apr 2018 07:10:42 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180418071042_13608790/ <![CDATA[News - Mosman Oil And Gas says GEM revitalisation is gaining momentum ]]> http://www.proactiveinvestors.co.uk/companies/news/194732/mosman-oil-and-gas-says-gem-revitalisation-is-gaining-momentum-194732.html Mosman Oil And Gas Ltd (LON:MSMN) chairman John Barr has said that the revitalisation of Gem International Resources Inc (CVE:GI) is gaining momentum.

The AIM-quoted junior oil firm holds 7.6mln shares in Gem and in February Barr was appointed to the GEM board.

In a stock market statement, Mosman said that GEM’s financial report for the year ended September 30 is currently being audited. The report and all outstanding filings should be completed within the next few days.

READ: Mosman Oil & Gas surges after Amadeus Basin update

Once the documentation is in place, Mosman expects GEM to focus on determining the appropriate business plan and it will call a shareholder meeting to consider matters designed to lay foundations to relaunch the company.

In the meantime, Mosman has agreed to provide GEM an unsecured loan of up to AU$100,000, in return for a AU$10,000 fee and 5% per annum interest. It will be repayable in a year.

“Encouragingly, the new GEM board have recently received several unsolicited enquiries offering capital raisings and potential projects,” said John Barr, Mosman chairman.

“Following completion of the audit, the new GEM Board will then determine an appropriate business plan to present to shareholders as a basis for relaunching GEM as a revitalised company."

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Wed, 11 Apr 2018 10:54:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/194732/mosman-oil-and-gas-says-gem-revitalisation-is-gaining-momentum-194732.html
<![CDATA[RNS press release - Update on Gem International Resources Inc. (GEM) ]]> http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180411094625_13600195/ Wed, 11 Apr 2018 09:46:25 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180411094625_13600195/ <![CDATA[Media files - Mosman Oil & Gas reports 'excellent' results from seismic reprocessing at Amadeus Basin permit ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/8993/mosman-oil-gas-reports-excellent-results-from-seismic-reprocessing-at-amadeus-basin-permit-8993.html Wed, 04 Apr 2018 14:57:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/8993/mosman-oil-gas-reports-excellent-results-from-seismic-reprocessing-at-amadeus-basin-permit-8993.html <![CDATA[News - Mosman Oil & Gas surges after Amadeus Basin update ]]> http://www.proactiveinvestors.co.uk/companies/news/194243/mosman-oil-gas-surges-after-amadeus-basin-update-194243.html Seismic processing at exploration permit (EP) 145 in the Amadeus Basin has produced excellent results, Mosman Oil And Gas Ltd (LON:MSMN) declared.

The reprocessing of data from has confirmed the shallow multi-pay-zone anticline at EP145, similar to the reservoir zones at the nearby Mereenie oil and gas field and also revealed information at deeper levels.

WATCH: Mosman Oil & Gas reports 'excellent' results from seismic reprocessing at Amadeus Basin permit

This new information includes indications of a salt diapir – a geological structure made up of mobile material - that may provide the sort of trapping mechanism found in the Gulf of Mexico, and also deeper information that may allow Mosman to link this permit to the large Dukas prospect to be drilled by Santos in the Southern Amadeus Basin in the next 12 months.

Mosman said revisiting the seismic data has delivered better definition than originally anticipated, especially of the deeper zones. Mosman reckons there is evidence that the anticline up-thrust is a result of salt tectonics.

Stage One of the work will continue to include nearby deep well data and seismic interpretation. Given the excellent results so far, Mosman is considering extending the work to Stage Two, including reprocessing the 1991 seismic data.

Meanwhile, the Northern Territory government has given the nod to Mosman that its request to extend the time frame of the permit has been approved.

The principal work programme is now:

Acquiring and processing 100 km of 2D seismic by 21/08/2019 Drilling one well by 21/08/2020 A second well by 21/08/2021

The extended timetable allows more time for the geologists to do their thing and for the financiers to work on the most effective way to fund the work programme, including exploring the possibility of a potential farm-out or joint venture.

"The recent work and the permit extension at EP145 are good news for Mosman. In addition to the US production assets, Mosman still continues to advance its other permits in accordance with its stated strategy,” said John Barr, Mosman's chairman.

Barr added that Mosman is greatly encouraged by recent and proposed industry activity in the Amadeus Basin.

Shares in Mosman shot up 10% to 0.82p on the news.

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Wed, 04 Apr 2018 11:50:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/194243/mosman-oil-gas-surges-after-amadeus-basin-update-194243.html
<![CDATA[RNS press release - Amadeus Basin, Permit EP145 Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180404110348_13591353/ Wed, 04 Apr 2018 11:03:48 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180404110348_13591353/ <![CDATA[News - Mosman Oil and Gas reports first half results ]]> http://www.proactiveinvestors.co.uk/companies/news/194027/mosman-oil-and-gas-reports-first-half-results-194027.html Mosman Oil And Gas Limited (LON:MSMN) is pleased with its opportunistic acquisition strategy, which appears to be paying off.

As it continues to re-engineer and enhance its oil field assets in North America, the company reported US$321,348 of revenue for the six months ended December 31, and it made a US$156,522 gross profit though it had a US$731,046 loss before tax, reduced from US$848,398 in the comparative period of 2016.

READ: Mosman Oil And Gas reports “good progress” with Australia exploration assets

It ended the period with US$830,000 of cash and equivalent.

Meanwhile, for the three months to March 31 2018, it anticipates some US$215,000 of revenue. Mosman said its share of oil sales amounted to around 2,550 barrels for the most recent quarter.

To advance its operations, the company spent US$284,043 in the six month period.

“The second half of the year started well with the USA assets all generating cash flow due to production improvements, lower costs and higher oil prices,” Mosman said in the statement.

“The strategy of acquiring oil production assets when oil prices were low is proving to be sound given recent increases in both oil production and the oil price and we look forward to building on the platform we have now established for the business.”

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Thu, 29 Mar 2018 09:51:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/194027/mosman-oil-and-gas-reports-first-half-results-194027.html
<![CDATA[RNS press release - Half-year Report ]]> http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180329081620_13586393/ Thu, 29 Mar 2018 08:16:20 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180329081620_13586393/ <![CDATA[News - Mosman Oil and Gas continues to advance Arkoma project ]]> http://www.proactiveinvestors.co.uk/companies/news/193871/mosman-oil-and-gas-continues-to-advance-arkoma-project-193871.html Mosman Oil And Gas Limited (LON:MSMN)  updated investors on the Arkoma project in Oklahoma where operations are presently advancing to increase oil production.

The operator is presently progressing a programme to instal high-volume Electrical Submersible Pumps (ESPs) as well as infrastructure upgrades to accommodate the additional volumes of associated water production.

READ: Mosman Oil And Gas reports “good progress” with Australia exploration assets

According to the schedule, pumps will be installed into two wells by the end of May, and production rates are expected to build by the end of July.

Mosman, meanwhile, revealed that it has agreed an extension to the deadline for its second option, which would allow it to decide to increase its stake in the project up until July 31. The extension agreement means the company’s stake could increase to a maximum of 33.3%, in return for US$231,022.

"This latter option exercise date will allow Mosman to make an informed decision based on a better understanding of the project's oil production rates following the installation and operation of ESPs, while also being able to take into account market conditions and the prevailing oil price at the time,” said John Barr, Mosman chairman.

He added: "Mosman continues to pursue its stated strategy of investing in opportunities like Arkoma which will provide operating cash flow and have further development upside. 

“The agreement with our partners on a later option exercise date will allow the board to obtain vital operational data before making its decision on exercising the second option."

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Tue, 27 Mar 2018 10:52:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/193871/mosman-oil-and-gas-continues-to-advance-arkoma-project-193871.html
<![CDATA[RNS press release - Arkoma Project Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180327095736_13582734/ Tue, 27 Mar 2018 09:57:36 +0100 http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180327095736_13582734/ <![CDATA[News - Mosman Oil and Gas confirms Arkoma project stake acquisition ]]> http://www.proactiveinvestors.co.uk/companies/news/193300/mosman-oil-and-gas-confirms-arkoma-project-stake-acquisition-193300.html Mosman Oil And Gas Limited (LON:MSMN) has confirmed that it has increased its stake in the Arkoma project in Oklahoma to 27%.

The company said that it will now proceed with installing high-volume electrical submersible pumps and infrastructure upgrades to support production growth at Arkoma.

READ: Mosman Oil And Gas reports “good progress” with Australia exploration assets

Talks are now underway regarding Mosman potentially taking up its further option to increase its stake in the project – a prior agreement allows for the group to acquire up to 55% by March 27.

"We have achieved our initial objective in respect to increasing our interest in the attractive Arkoma stacked pay producing asset to 27% based on due diligence, sound data and technical analysis,” said John Barr, Mosman

“We have also funded operational upgrades at Arkoma that are expected to lead to increased oil production and cash flow.”

Barr added: "The strategy of acquiring oil production assets when oil prices were low is proving to be sound given recent oil price increases.

“We are benefiting from the decisions taken and the excellent technical work done to increase oil production and look forward to building further our production base and cash flow in the USA."

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Fri, 16 Mar 2018 10:40:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/193300/mosman-oil-and-gas-confirms-arkoma-project-stake-acquisition-193300.html
<![CDATA[RNS press release - Arkoma Project Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180316100832_13569954/ Fri, 16 Mar 2018 10:08:32 +0000 http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180316100832_13569954/ <![CDATA[News - Mosman Oil And Gas reports “good progress” with Australia exploration assets ]]> http://www.proactiveinvestors.co.uk/companies/news/193150/mosman-oil-and-gas-reports-good-progress-with-australia-exploration-assets-193150.html Mosman Oil And Gas Ltd (LON:MSMN) told investors that it remains focused in the short term on its “strategically important and high-impact” assets in the United States.

At the same time, it said it continues to make “good progress” with its exploration portfolio in Australia where it now has two 100% owned and one application spanning a total of 5,458 square kilometres.

READ: Mosman Oil And Gas increases stake in Arkoma oil project

The company said the general outlook for exploration in Australia’s Northern Territory is encouraging.

It highlighted that a major gas pipeline project is being developed, due to flow in late 2018, and it said this is advantageous for Mosman as any future exploration success would be in close proximity to the pipeline.

"We are pleased with the increasing level of activity in the NT area driven in large part by higher Australian east coast gas prices,” said John Barr, Mosman chairman.

“We remain focused on our strategically important and high-impact production and development assets in the USA and in parallel in Australia, we are making meaningful progress on technical work on our exploration permits in the NT and look forward to receiving the report and the final geological model on EP156 from Synterra incorporating the airborne survey acquired in 2017 where initial interpretations look encouraging."

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Wed, 14 Mar 2018 10:16:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/193150/mosman-oil-and-gas-reports-good-progress-with-australia-exploration-assets-193150.html
<![CDATA[RNS press release - Australian Exploration Projects Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180314085941_13566381/ Wed, 14 Mar 2018 08:59:41 +0000 http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180314085941_13566381/ <![CDATA[Media files - Mosman Oil & Gas ups stake in Arkoma project in Oklahoma ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/8830/mosman-oil-gas-ups-stake-in-arkoma-project-in-oklahoma-8830.html Thu, 01 Mar 2018 13:52:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/8830/mosman-oil-gas-ups-stake-in-arkoma-project-in-oklahoma-8830.html <![CDATA[News - Mosman Oil And Gas increases stake in Arkoma oil project ]]> http://www.proactiveinvestors.co.uk/companies/news/192335/mosman-oil-and-gas-increases-stake-in-arkoma-oil-project-192335.html Mosman Oil And Gas Ltd (LON:MSMN) shares advanced in Wednesday’s early deals after the company confirmed it is exercising its right to buy into the Arkoma oil project in Oklahoma.

Through a series of deals and amendments the company ends up with a 27% stake in the project - it started with 10%, the option exercise gave it 30%, a separate agreement saw it assign 15% to partner Blackstone, and in compensation for its recent project spending Mosman received another 2%.

WATCH: Mosman Oil & Gas ups stake in Arkoma project in Oklahoma

Chairman John Barr told investors that the deal reinforces the delivery of Mosman’s stated goal to become a production, development and exploration company.

“We are very pleased with this outcome and the continued progress on our current projects as we also continue to build and strengthen our partnerships," Barr said.

In the field, the project partners will now work to generate production and cash flow while longer term plans will be considered for the projects next stage of development.

It is expected that the project’s gross production will be between 80 and 120 barrels of oil per day, via upgraded production facilities. Longer term development would likely include additional well drilling.

Mosman has a further option to acquire up to a total of 55% of Arkoma.

In early deals, Mosman shares were up 12% changing hands at 1.1p.

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Wed, 28 Feb 2018 08:27:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/192335/mosman-oil-and-gas-increases-stake-in-arkoma-oil-project-192335.html
<![CDATA[RNS press release - First Option Exercised at Arkoma ]]> http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180228070500_13548381/ Wed, 28 Feb 2018 07:05:00 +0000 http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180228070500_13548381/ <![CDATA[News - Mosman Oil and Gas study sees “attractive economics” for horizontal well project in Texas ]]> http://www.proactiveinvestors.co.uk/companies/news/191884/mosman-oil-and-gas-study-sees-attractive-economics-for-horizontal-well-project-in-texas-191884.html Mosman Oil And Gas Ltd (LON:MSMN) told investors that a completed prefeasability study assessing a possible horizontal well project, at the Welch Permian Basin property in Texas, would have “attractive economics” at the current oil price.

The company said the wells would have anticipated oil flow rates of 60 to 120 barrels per day, based on data from nearby wells, and a new reserves study is now underway, due in April.

READ: Mosman Oil and Gas earmarks £500,000 of new funds for evaluation of new opportunities

Mosman highlighted that the first horizontal well could be drilled and brought on production in the third or fourth quarter, and in the meantime a full feasibility study will be undertaken.

The reports will prove important when it comes to financing the project, according to Mosman.

"Mosman is very pleased with the results of the PFS at Welch and has instructed the commencement of the feasibility study,” said John Barr, Mosman chairman.

WATCH: Mosman Oil & Gas generating cash from Welch project in Texas

“The Welch project provides both a strong revenue stream and the foundation for growth.

“The horizontal well development is being systematically progressed and we expect to have several financing alternatives that will be finalised before the final development decision is made by the board."

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Tue, 20 Feb 2018 07:58:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/191884/mosman-oil-and-gas-study-sees-attractive-economics-for-horizontal-well-project-in-texas-191884.html
<![CDATA[RNS press release - Positive results from Welch Horizontal Well Study ]]> http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180220070004_13538666/ Tue, 20 Feb 2018 07:00:04 +0000 http://www.proactiveinvestors.co.uk/companies/rns/8266/LSE20180220070004_13538666/