Mosman Oil and Gas Limited Stanley-2 Drilling Update (2277T)
19 March 2019 - 6:01PM
UK Regulatory
TIDMMSMN
RNS Number : 2277T
Mosman Oil and Gas Limited
19 March 2019
19 March 2019
Mosman Oil and Gas Limited
("Mosman" or the "Company")
Stanley-2 Drilling Update
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration,
development and production company, advises that the rig is now on
location at Stanley-2 in Texas and drilling has now commenced. The
well is expected to take approximately 14 days to drill and
evaluate. The primary targets are Eocene aged sands (which includes
the Yegua sands) which were indicated to be potentially oil bearing
in Stanley-1. Stanley-2 will be directionally drilled to optimise
the potential production of the reservoir objective sands.
Stanley-2 is the next well to be drilled as part of the
Strategic Alliance with the privately-owned Baja Oil & Gas,
LLC. Stanley-2 is designed to penetrate its primary target updip
from Stanley-1 to optimise the potential oil production and
recovery from these reservoirs.
Mosman has used existing cash resources to fund its drilling
commitment for this well.
John W Barr, Chairman, said: "It is good to have drilling
underway after the weather-related delays. The drilling should
happen quickly and the Board of Mosman very much look forward to
the detailed results and to updating shareholders as soon as
possible."
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
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.
END
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