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#MSMN Mosman Oil and Gas – Amadeus Basin EP-145 Update
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development, and production company, announces the completion of the on-site portion of the Environmental Survey at EP-145, located in the Amadeus Basin in the Northern Territory, Australia.
The Environmental Survey was completed on schedule and initial results have been received. The next step is the receipt of the final report and submission to the NT government.
This Environmental Survey was one of the pre-requisites to seismic acquisition. The other pre-requisite is approval for acquisition from organisations representing native title parties.
Representatives from the Company will be travelling to Alice Springs in April to meet with the Central Land Council (‘CLC’) and to attend the annual technical conference.
John W Barr, Chairman, said : “Mosman is pleased to achieve the next step in the approval process at EP-145 and is following up on the outstanding final reports with vigor.
“The Amadeus Basin is considered an important asset with considerable exploration upside which needs ongoing work to prove the concepts and resources.”
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Mosman Oil & Gas Limited John W Barr, Executive Chairman Andy Carroll, Technical Director |
NOMAD and 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 |
#MSMN Mosman Oil and Gas – Director/PDMR Shareholding
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development, and production company, announces that on 3 February 2022, the Company was notified that John W Barr, Executive Chairman of the Company, transferred 25 million ordinary shares from Kensington Advisory Services P/L to Kensington Consulting P/L which acts as trustee of the Barr Superfund, at a price of AUD50,000.
Following the transaction, there is no change in John Barr’s beneficial ownership, which remains at 82,354,584 Ordinary Shares, representing 2.14% of the Company.
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 |
#MSMN Mosman Oil and Gas – Winters-2 update
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development, and production company, announces an update to the Winters-2 well, where Mosman owns a c23% Working Interest.
As previously announced, the well was recompleted in the Wilcox sand at a depth of 6,695-6,700 feet.
The well has now been flow tested with an adjustable choke and flowed at rates of 576-624 mcfd (gross) over an 8 hour period on an 8/64 choke
The well will be put on production once installation of gas infrastructure is completed, anticipated to be later this quarter. The initial production rate is expected to be in this 576-624 mscfd (gross) range (110 to 120 boepd), subject to operational considerations.
John W Barr, Chairman, said “I am pleased to be able to report the successful test of Winters-2. As highlighted in the recent production update Mosman continues to build the Company’s production base and we look forward to providing further updates in due course.”
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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 |
#MSMN Mosman Oil and Gas – Falcon Update
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development, and production company, announces an update in respect of its Falcon project which forms part of the Champion Project in East Texas. Mosman holds a 75% working interest in the Falcon-1 well, the first well to be drilled at the project.
At Falcon-1, an additional Frio sand zone has been perforated at a depth 7,457-7,460 feet. The well has flowed on test at a rate of 1,000 mcfd, but due to the current choke size of 7/64 it has been producing at an average rate over the last 5 days of 576 mcfd (c 113 boepd gross). To balance short term cashflow and long optimize gas recovery over time, the production strategy is to periodically increase the choke size and monitor wellhead pressures. The first increase in choke size planned for this this week is to increase the choke to 8/64.
The current production rate is an increase of 23% compared to average flow rate of c 92 boepd (gross) in the quarter ended 30 September 2021.
John W Barr, Chairman, said: “Mosman is making steady progress to meet our growth objectives, with another strong step forward with this strong increase in production at Falcon.”
The costs of the recompletion were paid from existing cash reserves. The current cash position is c AUD 1 million.
Production numbers for the six months ending 31 December should be available in the next month, once all information has been received.
Mosman is awaiting results from recent drilling and other workovers. This information will be published when it is available.
Qualified Person’s Statement
The information contained in this announcement has been reviewed and approved by Andy Carroll, Technical Director for Mosman, who has over 35 years of relevant experience in the oil industry. Mr. Carroll is a member of the Society of Petroleum Engineers.
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 information 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 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 |
#MSMN Mosman Oil and Gas – Stanley-5 to be placed on production
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, announces an update on the Stanley-5 well in Polk County, East Texas in which the Company has a c.36.5% interest.
At Stanley-5, the well has been recompleted in a Yegua zone at a depth of 4,528-4,530 feet. The initial flow rate is equivalent to 60 bpd, limited by a 8/64 choke. The flow is almost all oil with some minor water. The well is not yet optimised, and the choke size may be changed in an endeavour to improve the production flow rate. Further information will be provided once a steady production flow rate is fully established.
The service rig which completed this recompletion will now return to Winters-2 to undertake a further workover and may be used on other wells (for example at Stanley).
John W Barr, Chairman, said: “Mosman has always had faith in this well and in the larger East Texas location due to the seismic work completed to determine the location of wells. In most wells there are multiple potential production zones, and the task is always to complete and then recomplete the well at various zones to maximise oil and gas recovery.
“The initial flow rates at Stanley-5 are an encouraging result and highlight the opportunities we identified when we acquired Nadsoilco in July 2021.”
Qualified Person’s Statement
The information contained in this announcement has been reviewed and approved by Andy Carroll, Technical Director for Mosman, who has over 35 years of relevant experience in the oil industry. Mr. Carroll is a member of the Society of Petroleum Engineers.
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 information 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 Broker SP Angel Corporate Finance LLP Stuart Gledhill / Richard Hail / Adam Cowl +44 (0) 20 3470 0470 |
|
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 |