Mosman Oil and Gas Ltd (AIM:MSMN) announced its initial gas production results from the Stanley-4 well in East Texas, which it has a 36.5% working interest in.
Oil exploration, development and production company had an initial gross flow rate of approximately 275,000 cubic feet per day (mcfpd), which is about 53 barrels of oil equivalent per day (boepd).
Another six barrels of oil per day (bopd) were produced by the well, which was connected to the company’s recently completed gas infrastructure, taking the initial daily production to 59 boepd, it said.
Stanley-4 will be closely monitored to optimise the production rate.
The Winters-2 well, which Mosman has a 23% working interest in, was also connected to the gas infrastructure recently.
Gross production rate from the five days to 11 March averaged 127 boepd, while an extra 10 bopd were made bringing the five-day average to 137 boepd.
"It is pleasing to see Stanley-4 producing oil and gas and we are encouraged by the oil production data at Winters-2,” John Barr, chairperson, said.
The company’s shares rose 15% in Monday morning’s changing of hands.