Mosman Oil and Gas Limited Operations Update (2071Q)
June 27 2022 - 2:00AM
UK Regulatory
TIDMMSMN
RNS Number : 2071Q
Mosman Oil and Gas Limited
27 June 2022
27 June 2022
Mosman Oil and Gas Limited
("Mosman" or the "Company")
Operations Update
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration,
development and production Company, is pleased to provide the
following operations update.
Production for the three months ending 31 March 2022 was 22,409
boe (Gross), 11,756 boe (Net attributable to Mosman). Final June
quarter numbers will be announced in late July and in the interim
Mosman advises the preliminary numbers for the two months ending 31
May 2022 are: 15,682 boe (Gross), 6,276 boe (net attributable to
Mosman).
Mosman emphasises that these numbers are still preliminary as
formal receipts from the purchases are not yet available for May.
Boe is barrels of oil equivalent based on calorific value as
opposed to dollar value.
In the period January to May 2022, 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.
Mosman also advises that:
- In May production stopped at the Falcon well. An initial
workover was attempted but was not successful. Planning is now
underway to attempt to restore production.
- A workover was completed at Stanley-5 in late May 2022. In the
20 days to 20 June 2022 a total of circa 2,300 barrels of oil were
sold which represents a positive increase over previous months.
- Further workovers at Stanley are now planned in July, subject
to rig availability, with the aim to further increase
production.
- Drilling approval for the next drill has now been received
from the authorities and preparation to drill Cinnabar-1 continues.
Drilling is still on track and is scheduled to start in
August-September 2022.
The Company is in the process of updating its corporate
presentation ahead of its planned program of investor presentations
in the coming weeks and will upload it to its corporate
website.
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:
Mosman Oil & Gas Limited John NOMAD and Broker
W Barr, Executive Chairman SP Angel Corporate Finance LLP
Andy Carroll, Technical Director Stuart Gledhill / Richard Hail /
jwbarr@mosmanoilandgas.com Adam Cowl
acarroll@mosmanoilandgas.com +44 (0) 20 3470 0470
Alma PR Joint Broker
Justine James / Joe Pederzolli Monecor (London) Ltd trading as ETX
+44 (0) 20 3405 0205 Capital Thomas Smith
+44 (0) 7525 324431 020 7392 1432
mosman@almapr.co.uk
Updates on the Company's activities are regularly posted on its
website:
www.mosmanoilandgas.com
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCSEMFUMEESELM
(END) Dow Jones Newswires
June 27, 2022 02:00 ET (06:00 GMT)
Mosman Oil And Gas (LSE:MSMN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Mosman Oil And Gas (LSE:MSMN)
Historical Stock Chart
From Apr 2023 to Apr 2024