Mosman Oil and Gas Ltd (AIM:MSMN) has confirmed the start of drilling at the Stanley-5 well in Polk County, East Texas.
Stanley-5 is a development well targeting the Yegua formation. It will be drilled down to a depth of 5,000 feet.
Mosman’s share of the well’s cost is estimated at US$350,000 and will be covered by existing cash resources.
The programme follows the end of drilling at the nearby Winters-2 well, which is now being completed ahead of a production test.
The AIM-quoted company holds a 36.5% interest in the well.