14th Mar 2022 11:58
Mosman Oil and Gas Ltd - Sydney-based oil and gas company - Reports first oil and gas production from Stanley-4 well in east Texas, in which it has a 45% interest, following the completion of the site's gas network. The initial gross flow rate is 275,000 cubic feet per day, or around 53 barrels of oil equivalent per day. The well is also producing 6 barrels of oil per day, for an average daily total of 59 barrels of oil equivalent. The well will be monitored and production rate will be optimised, Mosman says.
The Winters-2 well, in which it has around 23% working interest, is averaging 657,000 cubic feet per day, or around 127 barrels of oil equivalent per day, and around 10 barrels of oil, for an average daily total of 137 barrels of oil equivalent between March 7 to 11.
Chair John Barr says: "It is pleasing to see Stanley-4 producing oil and gas and we are encouraged by the oil production data at Winters-2. Going forward, the gas infrastructure will be useful in optimizing production, for example by enabling gas lift on other Stanley oil wells."
Current stock price: 0.15 pence, up 13% on Monday
12-month change: down 2.5%
By Elizabeth Winter; [email protected]
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