leadf
logo-loader
viewMosman Oil and Gas Ltd

Mosman Oil & Gas expects oil from third Stanley well by next month

Mosman has at least a 14.85% working interest in the well as part of an alliance with privately owned Baja Oil & Gas

Mosman Oil And Gas Ltd -
Mosman said its "clear intention is to increase production"

Mosman Oil & Gas Ltd (LON:MSMN) said it expected initial oil in mid-September as a third well was spudded at the Stanley project in east Texas.

The primary objective of Stanley-3, where Mosman has at least a 14.85% working interest in the well as part of an alliance with privately-owned Baja Oil & Gas, is to reach the multiple Yegua sands that have seen oil flowing at 244 barrels per day at Stanley-1 and 130-135 barrels of oil equivalent per day at Stanley-2.

With the well being drilled vertically to a total depth of 5,100 feet on a turnkey contract basis, the total cost for all participants of drilling Stanley-3 is estimated to be around US$325,000.

If commercially successful, an additional amount of approximately US$165,000 will be required for completion and tie-in operations.

“It is anticipated the well will be completed in a short period of time and the initial oil production will be seen by mid-September,” said Mosman chairman John W Barr.

“Mosman's clear intention is to increase production and thus cashflows as quickly as possible whilst taking into account operational and legislative requirements.”

Quick facts: Mosman Oil and Gas Ltd

Price: 0.16 GBX

AIM:MSMN
Market: AIM
Market Cap: £2.63 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

Mosman Oil and Gas's Andy Carroll updates on Stanley-4 drill plans

Mosman Oil and Gas Ltd's (LON:MSMN) Andy Carroll tells Proactive the drilling of the Stanley-4 well in Texas is expected to start as soon as possible with the drill rig now on site. He says they're keeping a keen eye on Hurricane Laura which this week has made landfall in Louisiana and could...

3 weeks, 4 days ago

2 min read