Mosman Oil & Gas - Stanley-2 Initial Production
("Mosman" or the "Company")
Stanley-2 Initial Production
Stanley-2 was drilled in
Since being placed on production a heater-treater circuit has been added along with the additional injection of chemical de-emulsifier at the well head. Following these works, Mosman has been advised that average gross production from the last seven days was 63.5 BOPD. Mosman currently has an 18.5% working interest in this well.
The Stanley-2 well production rates are yet to fully settle. With this type of well the Operator monitors and periodically adjusts choke settings and production equipment to optimise oil production. Further announcements may be made in due course to provide updates in respect of any material changes to the production profile.
The next potential increase in production is anticipated to be the drilling and completion of Stanley-3 in August and Falcon-1 in this quarter. These wells will be financed from existing cash resources.
John W Barr, Chairman, said: "The flow rates from Stanley-2 are satisfying and fully justify the investment in the Stanley project. With oil production now established from multiple zones this demonstrates the potentially successful long-term nature of the Stanley Field overall.
"The Company continues to meet its objectives, and very much looks forward to the next wells being drilled shortly."
Competent Person's Statement
The information contained in this announcement has been reviewed and approved by
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.
John W Barr, Executive Chairman
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Updates on the Company's activities are regularly posted on its website www.mosmanoilandgas.com
barrel / barrels
barrels of oil per day
(True Vertical Depth)
the vertical distance from a point in the well to a point at the surface.
the length of the wellbore, as if determined by a measuring stick
thousand cubic feet of gas per day
This information is provided by RNS, the news service of the
Quick facts: Mosman Oil And Gas Ltd
Market Cap: £2.38 m
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