Sign up United Kingdom
Mosman Oil And Gas (LON:MSMN)

Mosman Oil And Gas (LON:MSMN)


Share Price
0.28 p
Change
-0.005 (-1.75 %)
Market Cap
£1.24 m
Proactive Investors - Run By Investors For Investors

Mosman Oil And Gas RNS Release

Stanley-1 Production and Stanley-2 Update


RNS Number : 4565E
Mosman Oil and Gas Limited
18 October 2018
 

18 October 2018

 

 

Mosman Oil and Gas Limited

("Mosman" or the "Company")

 

Stanley-1 Production and Stanley-2

 

 

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, announces an update in respect to the Stanley-1 well and Stanley-2 projects.

 

At Stanley-1 the well choke size has again been increased as wellhead pressure reduced.  The consultant's interpretation is that the data indicates a small gas cap is being depleted, and that once gas flow no longer has to be restricted, the well can then be opened up and optimised for oil production. As a result the initial proposal to install additional gas infrastructure has not proceeded.

 

Stanley-2 well is on schedule to be driiled by the operator in November. The Stanley-2 primary target is the Yegua sands.

 

John W Barr, Chairman, said: 

"Stanley-1 continues to generate revenue from gas and oil sales, however the hope is that the oil will become the dominate revenue stream shortly.  The Board is keen to move forward to Stanley-2 well being drilled soon."

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.
 
END
 
 
UPDGGGMAUUPRUQR

Mosman Oil And Gas Timeline

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use