2nd Sep 2020 14:37
Mosman Oil and Gas Ltd - oil explorer with projects in Texas - Says Hurricane Laura caused no significant damage at its Falcon-1 well at the Champion Project or the Stanley project in Texas. States that at Falcon-1, minor site work - including setting surface casing - will be completed in the next few days, adding that the drilling rig contract has been signed with the rig ready to move to location. Drilling the well is scheduled to be completed September.
The Stanley-1 workover has commenced, and the drilling of Stanley-4 is expected to commence soon, Mosman said. The Stanley 2 and Stanley 3 wells continue to produce oil. The company is still awaiting approvals for the greater Stanley workover.
"We look forward to drilling the fully funded and approved Falcon-1 and Stanley-4 wells where success, particularly at Falcon where we hold a higher working interest, would be another significant step forward in increasing our production base. At Stanley, in addition to Stanley-4, we continue to work to increase our existing production through the ongoing recompletion of Stanley-1," said Chair John Barr.
Current stock price: 0.20 pence
Year-to-date change: down 13%
By Ife Taiwo; [email protected]
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