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Mosman Oil and Gas’s Falcon well nears targets

Falcon-1 is one of a number of projects that can boost the company's production profile

Mosman Oil and Gas Ltd - Mosman Oil and Gas’s Falcon well nears targets

Mosman Oil and Gas Ltd (LON:MSMN) has updated on the Falcon-1 well at the Champion project in East Texas.

The company said that drilling is progressing well towards two prospective zones identified previously by seismic, forecast at between 7,400 and 7,500 feet.

READ: Mosman reports Stanley-4 production rate

Currently, the drill programme is at around 7,160 feet. Once the well reaches target depth of 7,500 feet it will be conditioned and prepared for wireline logging.

Earlier this week, the company provided an update from the Stanley-4 well which produced a total of 1,661 barrels of oil in the period between September 22 and October 2, 2020. The average daily rate was measured at 200 barrels of oil per day (bopd) over a four-day period, it said.

Some 1,051 of the barrels produced from Stanley-4 were sold in September.

Quick facts: Mosman Oil and Gas Ltd

Price: 0.1563 GBX

AIM:MSMN
Market: AIM
Market Cap: £3.9 m
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Mosman Oil & Gas 'very pleased' with test result from Falcon-1 well at Champion

Mosman Oil and Gas Ltd's (LON:MSMN) Andy Carroll speaks to Proactive's Andrew Scott after releasing test results from the Falcon-1 well, at the Champion project, which is now being prepared for production. The well flowed at a rate of 80 barrels of oil and 2.78mln cubic feet of gas per day,...

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