Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Mosman Oil and Gas looks forward to new drilling

New drilling, under the new strategic partnership is due to kick off in the coming weeks
oil and gas operations
Mosman will have a 16.5% working interest in the new venture

Mosman Oil And Gas Ltd (LON:MSMN) told investors that it will participate in a new drill programme, at the Stanley development, onshore Texas.

The company has agreed a new strategic alliance with Baja Oil & Gas, a privately-owned company, which has a substantial existing inventory of projects.

It will see Mosman participate in the evaluation of future projects, starting with Stanley.

WATCH: Mosman Oil & Gas announces strategic alliance

The Stanley well will be located in the Livingston Oilfield, Polk County, Texas. Drilling is set to start during July and August. Stanley’s primary objective is to produce oil from the Eocene aged Wilcox sands found productive in the area.

Mosman has acquired a 16.5% working interest in the Stanley project, by agreeing to pay 22% of the well’s costs - which, based on a fixed cost drill contract, are estimated at US$95,000, plus a further US$40,000 to complete and install production facilities.

If the well is successful, it is expected to yield 150 barrels of oil per day gross.

"While the near term focus for Mosman remains its existing US production projects and Australian exploration portfolio, the opportunity with Baja could not be ignored given the low entry cost and potential production numbers,” said John Barr, Mosman chairman.

“Baja management are a very experienced team, including time at BHP Petroleum when Mosman's US based operations manager Mr.Howard Mclaughlin was Head of Global Exploration."

View full MSMN profile View Profile

Mosman Oil And Gas Timeline

Related Articles

oil and gas operations
July 09 2018
Greka highlighted improved revenues which boosted gross profit despite the challenges experienced in India and China through 2017.
oil and gas operations
April 19 2018
The first two potential new wells will be drilled in around 45 days, and investors will be keen to see the results
coal trucks
March 14 2018
Polish group Cobant is the latest partner and will work with AEG to develop a new "Super Fuel" that combines CoalSwitch and reclaimed coal

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© 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