logo-loader
viewMosman Oil And Gas Ltd

Mosman Oil and Gas looks forward to drilling Stanley 3 well

"The recent placing has enabled Mosman to fund a number of priority expenditure requirements and continue to advance its strategic objective by drilling more wells,” said John Barr.

oil and gas operations
Drilling will start in the next 90 days

Mosman Oil And Gas Ltd (LON:MSMN) told investors that it is preparing to drill a third well at the Stanley project.

The company expects that the drill programme will start in the next 90 days.

It will target the same reservoir zones as Stanley-1 and Stanley-2.

READ: Mosman raises funds and commits to two new Champion wells

Mosman has also agreed to recomplete the Stanley-2 well and the work programme is expected to start in June.

"The recent placing has enabled Mosman to fund a number of priority expenditure requirements and continue to advance its strategic objective by drilling more wells,” said John Barr, Mosman chairman.

"Importantly we are on track to deliver further increases in production and participating in new wells."

Additionally, Mosman noted that routine workovers are being performed at the Welch project in order to maintain production levels.

At the Champion project work is proceeding to drill the first well, Falcon-1, during the next quarter.

Elsewhere, in Australia, the company continues to make progress at the Amadeus basin where it intends to carry out a seismic acquisition programme.

It is presently discussing the requirements with the Northern Territory government and the local indigenous groups.

Quick facts: Mosman Oil And Gas Ltd

Price: 0.234 GBX

AIM:MSMN
Market: AIM
Market Cap: £2.07 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

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...

In exchange for publishing services rendered by the Company on behalf of Mosman Oil And Gas Ltd named herein, including the promotion by the Company of Mosman Oil And Gas Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

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