Mosman Oil and Gas Ltd (AIM:MSMN) has reported some 6,212 barrels oil equivalent (boe) of net production for the three months ended 31 December 2022.
The company, in a short statement, noted that higher production rates at the Greater Stanley operations were offset by reduction at the Winters and Arkoma projects.
Meanwhile, the number excludes volumes from the recently drilled Cinnabar well which during testing flowed around 150 boe per day and Mosman said it has seen such rates since coming online, adding that Cinnabar is expected to boost output volumes by around 134%.
A further development plan is now being progressed for the Cinnabar project following the well’s success.
"We are pleased to report on the progress we have made to deliver another solid quarter,” said Mosman chair John Barr in the statement.
"Cinnabar is now the project that makes the biggest production contribution to Mosman. The delivery of this result is a step change in production and revenue.
“There is significant potential at Cinnabar and we will continue to build on this strong foundation," he added.
Mosman said it ended 2022 with US$975,000 of cash in the bank.