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Mosman Oil and Gas updates on Stanley progress

Operations are advancing at the Stanley project in Polk County, USA

oil and gas operations
Stanley-2 will soon be drilled

Mosman Oil And Gas Ltd (LON:MSMN) told investors that the Stanley-1 well will be opened up in the Spara reservoir.

Stanley-1 was brought into production last year, and, it was recently reported that it had produced 6,071 barrels oil equivalent gross between September 2018 and 31 December 2018.

Watch: Mosman Oil And Gas director shares 2019 outlook

It is expected that the Sparta reservoir will need a straightforward re-completion at a shallower depth.

The company, meanwhile, is preparing to drill the Stanley-2 well and it confirmed site works are complete, though operations remain delayed by the weather. No spud date can currently be predicted, Mosman said, following extended and substantial rainfall last week.

“We look forward to producing the Sparta reservoir that is expected to produce oil,” said John Barr, Mosman chairman.

“We are also pleased that the winter wet weather season ended and that allowed for construction works to be completed at the Stanley-2 drilling location. The Company will keep the market updated as appropriate."

Quick facts: Mosman Oil And Gas Ltd

Price: 0.142 GBX

Market: AIM
Market Cap: £1.6 m

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