The well has been drilled down to a depth of 5,144 feet and was evaluated with the use of drilling data, wire-line logs and sidewall cores.
A rig is presently on site and is preparing to complete the well, Mosman said, adding that flow rates and further details in respect of the potential pay zones will be provided when data is available.
Chairman John Barr said: “We have a 100% success rate at Stanley with three successful wells.
"Given the success of this well, Mosman looks forward to getting flow rates soon and near-term consideration of Stanley-4. Mosman executives will meet various parties in Houston and on site to consider this and other matters."