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Mosman Oil & Gas updates oil production with input from Falcon and Arkoma projects

The updated numbers showed the significant benefit of Falcon-1 production, said chairman John W Barr

Mosman Oil and Gas Ltd -

Mosman Oil & Gas Ltd (LON:MSMN) reported total production of 34,569 barrels of oil equivalent (boe) for the six months to end-December.

Of this, 9,871 net boe was attributable to the AIM-listed company, which is up from the 8,650 boe previously announced before receipt of additional production data on its Falcon and Arkoma projects in the US.

There was 1,096 of net attributable boe from the Falcon project, where production restarted two days ago, and 123 boe from Arkoma.

These numbers showed the significant benefit of Falcon-1 production, said chairman John W Barr.

“With drilling planned at Stanley, Champion and/or Challenger projects we anticipate further increases to our production in the coming months and have an objective to be involved in at least four new wells in 2021 subject to funding and other matters,” he said.

Mosman's stake in the Welch project in Texas, which contributed a net 4,481 boe in the period, was sold by the company last month for US$420,000.

Quick facts: Mosman Oil and Gas Ltd

Price: 0.1426 GBX

AIM:MSMN
Market: AIM
Market Cap: £3.77 m
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on 28/1/21

2 min read