Mosman Oil and Gas Ltd (AIM:MSMN) told investors that net production in its third quarter, ending March 31, amounted to 11,756 barrels oil equivalent (22,409 boe gross).
It noted that final numbers for its fourth quarter are expected to be announced in late July and preliminary numbers for the first two months of the quarter totalled 15,682 boe (it noted that its measure of boe is based on calorific value rather than US dollar value).
In a statement, it said “preliminary production numbers show continued solid production.
“It is highlighted that both oil and gas prices have risen significantly over the quarter and as Mosman continues to remain unhedged it will receive the benefit of current market prices.”
Providing some operational details, Mosman noted that production stopped for the Falcon well in May and whilst an initial well work-over was attempted, it was not successful. A work-over was successful for the Stanley-5 well in late May and further Stanley work-overs are planned for the month of July, subject to rig availability.
It also noted that drilling approval was secured for its next well, Cinnabar-1, which is slated to spud in "August-September".