Mosman Oil and Gas Limited Improved production at Stanley (8522V)
06 December 2023 - 6:34PM
UK Regulatory
TIDMMSMN
RNS Number : 8522V
Mosman Oil and Gas Limited
06 December 2023
6 December 2023
Mosman Oil and Gas Limited
("Mosman" or the "Company")
Improved production at Stanley
Mosman Oil and Gas Limited (AIM: MSMN) the hydrocarbon, helium
and hydrogen exploration, development, and production company,
provides an update on its Stanley project in the US, where surface
and downhole equipment has recently been installed resulting in an
improved production profile.
Stanley (34.85% to 38.5% WI)
Following a period of production optimisation, the Company is
pleased to announce that production at the Stanley project has
increased to approximately 90 bopd (5-day average gross oil).
Recent work at Stanley included installation of surface and
downhole equipment to boost production with jet pumps. The jet pump
surface facility has been changed to use natural gas direct drive
engines rather than diesel or natural gas fired electrical power
generation and electric pumps. This change is expected to result in
lower operating costs due to reduced rental costs and no fuel costs
since the wells produce sufficient associated gas to run the
natural gas engines. Importantly, system downtime should be
improved as the natural gas engines are lower maintenance.
This production level has been achieved primarily with
production from Stanley 4 and 5. Stanley 3 will be re-completed in
another zone and is expected to add production when re-completed
later this month.
The Company will provide details on all the production assets as
part of its December 2023 quarter update expected to be announced
in early 2024.
Andy Carroll, CEO of Mosman commented : "It is encouraging to
have achieved this improved production. The next phase is the
recompletion at Stanley 3 which is anticipated to result in
additional production."
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 NOMAD and Joint Broker
Andy Carroll SP Angel Corporate Finance LLP
CEO Stuart Gledhill / Richard Hail /
acarroll@mosmanoilandgas.com Adam Cowl
+44 (0) 20 3470 0470
Alma Joint Broker
Justine James CMC Markets UK Plc
+44 (0) 20 3405 0205 Douglas Crippen
+44 (0) 7525 324431 +44 (0) 020 3003 8632
mosman@almastrategic.com
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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END
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