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Texas Projects Update

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RNS Number : 5493F
Mosman Oil and Gas Limited
29 October 2018
 

29 October 2018

 

Mosman Oil and Gas Limited

("Mosman" or the "Company")

                                                          

 

Texas Projects Update  

 

A Mosman subsidiary Company operates the Welch Permian Basin Project and the Strawn Project both located in Texas, USA.

 

Mosman reported on 18 October 2018 that at both projects there had been recent significant rainfall, several wells had been temporarily shut in and that the collection of oil from sites had been delayed due to the rain and impassable local roads.

 

Mosman is now very pleased to announce that the rain has abated and recently four oil tankers of oil have been sold from the Welch Project and two from the Strawn project. Further sales are expected before months end.

 

A number of the wells that were shut in are now again producing, but some wells still require minor repairs that will be remedied over the coming weeks. Repairs are being prioritised towards production.

 

John W Barr, Chairman, said: 

"As stated, the effect will be a slightly lower average production rate. There remain a small number of repairs to be completed at Welch, however the Board maintains its belief in a focus on building production."

Competent 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

John W Barr, Executive Chairman

Andy Carroll, Technical Director

[email protected]

[email protected]

 

NOMAD and Broker

SP Angel Corporate Finance LLP

Stuart Gledhill / Richard Hail / Soltan Tagiev

+44 (0) 20 3470 0470

 

Gable Communications Limited

Justine James / John Bick

+44 (0) 20 7193 7463

[email protected]

Joint Broker

SVS Securities Plc

Tom Curran / Ben Tadd

+44 (0) 203 700 0078

 

Updates on the Company's activities are regularly posted on its website www.mosmanoilandgas.com


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Market: AIM
Market Cap: £1.95 m
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