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Mosman Oil and Gas Ltd eyes Stanley-2 well results in December

"The Stanley-2 well is the next step in the accelerated development of the multiple pay zone Stanley field,” said John Barr, Mosman chairman.

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“Stanley-1 continues to produce and generate revenue."

Mosman Oil And Gas Ltd (LON:MSMN) told investors it expects to see results from the Stanley-2 well during the month of December.

The junior oil company, in a stock market statement, said its contracted rig is ‘in the area’, and, that the drilling will start for Stanley-2 once present operations are complete for another operator’s project.

"The Stanley-2 well is the next step in the accelerated development of the multiple pay zone Stanley field,” said John Barr, Mosman chairman.

READ: Mosman says Stanley-1 well tests shows potential for higher flow rates

“Stanley-1 continues to produce and generate revenue."

Earlier this month, Mosman revealed that recently performed tests on the producing Stanley-1 well shows potential for higher flow rates once current gas constraints are removed.

The test, carried out by the operator, Nadsoilco LLC, and independent third parties, was limited due to the size of the test separator and was not an absolute open hole test.

The company said over several hours the well was flowed through increasingly larger choke sizes and the flow rate was allowed to stabilise at each stage.

The group pointed out that the final stable flow was 1,271,000 cfd and 50 bbls per day of liquid hydrocarbons, which is equivalent to 274 boepd. By way of comparison, it added, recent flow rates with the existing infrastructure were averaging 450,000 cfd and 10 bbls per day of liquid hydrocarbons, equivalent to 90 boepd.

Mosman holds a 16.5% working interest in the project.

Quick facts: Mosman Oil And Gas Ltd

Price: 0.235 GBX

AIM:MSMN
Market: AIM
Market Cap: £2.08 m
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Mosman Oil and Gas sees highest flow rate yet at Stanley project from third well

Mosman Oil and Gas Limited's (LON:MSMN) Andy Carroll speaks to Proactive London after announcing that the Stanley-3 well in Texas has been completed. He says the well struck a six-foot interval during completion operations with the recovered fluid 100% oil. Carroll adds they'll be looking...

on 12/9/19

2 min read