Mosman Oil and Gas Ltd (AIM:MSMN) has told investors that it now expects drilling to start on the Cinnabar-1 well, in Texas, in approximately seven days.
The company, in a statement, noted that the timing of drilling remains subject to final rig availability.
Cinnabar is planned for a vertical depth of 9,900 feet with its primary target the Wilcox sands, which produce oil and gas in nearby wells.
Once underway drilling is expected to take about two weeks.
If successful, Mosman anticipates Cinnabar could increase the company’s production by 130 barrels oil equivalent per day.
Mosman owns a 75% working interest in the Cinnabar well and it is the project operator.