Mosman Oil and Gas Limited Stanley-1 Production and Stanley-2 Update (4565E)
October 18 2018 - 2:58AM
UK Regulatory
TIDMMSMN
RNS Number : 4565E
Mosman Oil and Gas Limited
18 October 2018
18 October 2018
Mosman Oil and Gas Limited
("Mosman" or the "Company")
Stanley-1 Production and Stanley-2
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration,
development and production company, announces an update in respect
to the Stanley-1 well and Stanley-2 projects.
At Stanley-1 the well choke size has again been increased as
wellhead pressure reduced. The consultant's interpretation is that
the data indicates a small gas cap is being depleted, and that once
gas flow no longer has to be restricted, the well can then be
opened up and optimised for oil production. As a result the initial
proposal to install additional gas infrastructure has not
proceeded.
Stanley-2 well is on schedule to be driiled by the operator in
November. The Stanley-2 primary target is the Yegua sands.
John W Barr, Chairman, said:
"Stanley-1 continues to generate revenue from gas and oil sales,
however the hope is that the oil will become the dominate revenue
stream shortly. The Board is keen to move forward to Stanley-2 well
being drilled soon."
Competent 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
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
Enquiries:
Mosman Oil & Gas Limited NOMAD and Broker
John W Barr, Executive Chairman SP Angel Corporate Finance LLP
Andy Carroll, Technical Director Stuart Gledhill / Richard Hail
jwbarr@mosmanoilandgas.com / Soltan Tagiev
acarroll@mosmanoilandgas.com +44 (0) 20 3470 0470
Gable Communications Limited Joint Broker
Justine James / John Bick SVS Securities Plc
+44 (0) 20 7193 7463 Tom Curran / Ben Tadd
mosman@gablecommunications.com +44 (0) 203 700 0078
Updates on the Company's activities are regularly posted on its
website www.mosmanoilandgas.com
This information is provided by RNS, the news service of the
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Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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