21st Sep 2021 14:47
Mosman Oil & Gas Ltd - exploration & production company with assets in the US and Australia - Reports minor delays to operations and exploration due to labour shortages related to the Covid-19 pandemic. Says high oil and gas prices are likely to offset lower production in the short term. Worker shortages delay Winters 2 well drilling until September 27. Adds that higher fuel prices could increase demand for drilling equipment resulting in a shortage of workover rigs.
By October, the company expects to complete interpretation and integration of geophysical survey data for its EP-145 permit in central Australia. The data was slightly delayed by pandemic-related travel restrictions, the company adds. Notes Central Petroleum's positive drilling results in permit areas close to EP-145. Warns that "Covid related restrictions may impact the timing of the Work Area Clearance Survey by the Central Land Council, a requirement for the planned seismic survey."
Current stock price: 0.16 pence, down 3.6% on Tuesday afternoon
Year-to-date change: up 7.9%
By Scarlett Butler; [email protected]
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