Mosman Oil and Gas Limited (LON:MSMN) shares climbed on Monday after the firm said the Stanley-3 well in Texas had been completed.
AIM-listed Mosman, which holds a 14.85% working interest in the well, said the well had struck a six-foot interval during completion operations, with the recovered fluid 100% oil.
John W Barr, Mosman’s chairman, said the well had delivered “significant commercial success” for the firm and reinforced its investment strategy.
He added that the group would look for further success at the next well to be evaluated, Stanley 4.
The shares were up 4.7% at 0.3p in early deals.