6th Apr 2021 18:00
Mosman Oil & Gas Limited - oil exploration, development and production company - Buys additional 20% interest in the Duff lease, an existing oil producing lease covering 36 acres which forms part of the Greater Stanley project. This increases Mosman's working interest in Duff to 40%, following acquisition of the initial 20% in February 2020.
In addition, the company says Falcon well - in which the company has 50% stake - in east Texas, US, produced 12.4 million cubic feet of gas with a thermal value of 13,942 million british thermal unit in February. Additionally, 180 Barrels of oil were produced and sold from site. This compares to the January production of 21.8 million cubic feet of gas with a thermal value 23,475 million british thermal unit and production and sale of 365 barrels of oil.
"At Falcon, whilst the well has been impacted by weather conditions and the current production is lower than anticipated, we are encouraged by the proposal from the Operator to recomplete at a higher level to resolve production," says Chair John Barr.
Current stock price: 0.15 pence, up 2.5% on Tuesday
Year-to-date change: up 2.5%
By Evelina Grecenko; [email protected]
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