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Mosman Oil and Gas expects Winters-2 well to be spud in coming days

Published: 09:48 29 Sep 2021 BST

Mosman Oil and Gas Ltd - Mosman Oil and Gas expects Winters well spud in coming days

Mosman Oil and Gas Ltd (AIM:MSMN) told investors it expects the Winters-2 well in Texas to be spud in the next few days.

The company, in a brief statement, said equipment for the well programme has started to arrive on site.

Spud is expected in a matter of days and once underway the drilling is slated to take seven to ten days to complete.

Mosman acquired an interest in the Winters lease through a June 2021 transaction with Nadsoilco and it noted that the team in the field has otherwise been ready to drill for some time, but the rig equipment was delayed due to Covid-19 impacts.

Mosman noted that it will hold a 23% working interest in the well.

Winters-2 will be drilled 7,000 feet into the Wilcox formation, which produces in other nearby wells. The well is expected to cost US$700,000 gross, US$160,000 net to Mosman.

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