Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development, and production company, has completed construction of the gas network in East Texas which will allow for the sale of gas from the Winters-2 well (23% Working Interest) and Stanley-4 well (45% Working Interest).
The gas network connects several leases, including one operated by Arcadia Operating LLC (‘Arcadia’) and will be owned by Mosman’ s subsidiary, Nadsoilco and Arcadia. Costs have been split between the parties to provide a strong economic foundation for the pipeline and operating costs will be in proportion to gas sales volumes.
The system will be tested over the next few days and well production flow rates will be announced once available.
John W Barr, Chairman, commented: “Mosman is pleased to complete the construction of the gas network to further build on our production profile.
“With the gas network in place, it enables gas production from Winters-2 and Stanley-4, and other wells in the area. I am pleased to see increasing production volumes and cashflow, especially while gas price is strong.”
To view photos of the gas network, please visit Mosman’s website – www.mosmanoilandgas.com.
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (‘MAR’) which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service (‘RIS’), this inside is now considered to be in the public domain.
Enquiries:
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Mosman Oil & Gas Limited John W Barr, Executive Chairman Andy Carroll, Technical Director |
NOMAD and Joint Broker SP Angel Corporate Finance LLP Stuart Gledhill / Richard Hail / Adam Cowl +44 (0) 20 3470 0470 |
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Alma PR Justine James / Joe Pederzolli +44 (0) 20 3405 0205 +44 (0) 7525 324431 |
Joint Broker Monecor (London) Ltd trading as ETX Capital Thomas Smith 020 7392 1432 |
Updates on the Company’s activities are regularly posted on its website:
Notes to editors
Mosman (AIM:MSMN) is an oil exploration, development, and production company with projects in the US and Australia.
Mosman’s strategic objectives remain consistent: to identify opportunities which will provide operating cash flow and have development upside, in conjunction with progressing exploration of existing exploration permits.
The Company has seven projects in the US: Stanley, Greater Stanley, Livingston, Winters, Challenger and Champion in East Texas and Arkoma in Oklahoma in addition to exploration projects in the Amadeus Basin in Central Australia.