Mosman Oil and Gas Limited Cinnabar-1 well flows Oil and Gas (3246L)
December 30 2022 - 03:06AM
UK Regulatory
TIDMMSMN
RNS Number : 3246L
Mosman Oil and Gas Limited
30 December 2022
30 December 2022
Mosman Oil and Gas Limited
("Mosman" or the "Company")
Cinnabar-1 well flows Oil and Gas
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration,
development, and production company, provides an update in respect
to the Cinnabar-1 well in Tyler County, Texas. The Cinnabar well
was drilled in October 2022 and is now in the process of being
completed and placed on production.
The well has been completed and perforated in the upper Wilcox
zone (9,050 to 9,110 feet). Initial flow is both oil and gas.
The well has been flowing into temporary tankage which is volume
constrained. The next step is to connect the well to the existing
production facility with larger tanks and gas separation. This will
allow stable rates to be established and measured, and flow rates
will be announced when available.
Mosman owns a c.75% working interest in the well and the
350-acre lease. Mosman Operating LLC, a 100% owned subsidiary of
Mosman, is the Operator of the lease.
John W Barr, Chairman, said: "The success at Cinnabar-1 confirms
Mosman's technical work, indicating considerable potential for
additional development wells on the Cinnabar lease.
"This success again reinforces the investment case in
South-Eastern Texas where Mosman has participated in several wells,
and each one has been placed on production."
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:
Mosman Oil & Gas Limited John NOMAD and Joint 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 Monecor (London) Ltd trading as OvalX
+44 (0) 20 3405 0205 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 several projects in the US. In addition to
exploration projects in the Amadeus Basin in Central Australia.
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