Mosman Oil and Gas Ltd (AIM:MSMN) has provided investors with a production update for the quarter ending 31 March.
The company, in a statement, said reported net production was 3,764 barrels of oil equivalent (boe) for the three month period, marking a significant increase from 2,725 boe in the December quarter. The improvement was attributed to effective workovers and updates to production infrastructure.
Mosman noted an average sale price of US$73.73 per barrel for oil and US$2.74 per MMBtu for gas.
The company said its cash position at the end of the quarter stood at A$820,000.
"I am pleased to see increasing production in USA providing revenue and cashflow whilst we progress helium, hydrogen and hydrocarbon exploration in Australia,” chief executive Andy Carroll said.
Updating on its operations, Mosman noted its recompletion plan for its Cinnabar project which is expected to be funded from project cash flows.
Elsewhere, efforts continue to optimise production at the Stanley-5 well, in Texas, which has faced interruptions due to sand production.