Proactive Investors - Run By Investors For Investors

Mosman Oil and Gas boosted by Stanley well test results

“Mosman will soon receive cash flow from these wells as they can be produced using existing production facilities"
oil and gas operations
Additional low cost development wells will be considered in the future

Mosman Oil And Gas Ltd (LON:MSMN) saw its shares rise in Thursday’s early deals as it revealed production testing results from the Stanley-1 and Stanley-2 wells.

The wells are operated by partner Baja Oil and Gas which reported an initial flow rate of 330 barrels of oil per day from the Stanley-1 well, while the Stanley-2 well flowed between 130 to 135 barrels oil equivalent per day.

"These initial flow rates are a demonstration of the excellent production from multiple stacked reservoirs at Stanley,” said John Barr, Mosman chairman.

WATCH: Mosman delighted with positive results from Stanley-2 well

“Mosman will soon receive cash flow from these wells as they can be produced using existing production facilities.

“Further low cost Stanley development wells will be considered in due course.”

Barr added: "Stanley wells add to the production from our existing projects at Welch, Arkoma, and Strawn.

"Mosman is also encouraged by the start of drilling of the Dukas exploration well by Santos Limited in the Northern Territory of Australia.”

View full MSMN profile View Profile

Mosman Oil And Gas Ltd Timeline

Related Articles

June 21 2019
In June, Touchstone CEO chief executive Paul Baay said the company was ready to spud the first well on the Ortoire block, which according to a prospect evaluation by GLJ has an estimated net present value between US$10.5mln and US$86.86mln
February 15 2019
ExxonMobil has made ten discoveries on the neighbouring Stabroek Block with an estimated 5bn barrels of oil
Hydrogen fuel gauge
April 05 2019
The company’s technology, DMG, uses a process of small scale gasification to turn waste products into energy rich clean synthetic gas from which electrical power and hydrogen can be produced

© Proactive Investors 2019

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