4th Oct 2019 09:51
(Alliance News) - Mosman Oil & Gas Ltd on Friday said the Stanley-3 well - located in the US state of Texas - continues to produce.
Mosman has a 15% working interest in the Stanley-3 well.
The oil exploration, development and production company said the Stanley-3 well was placed on production on September 10 and produced 2,428 barrels at an average of 115.6 barrels of oil per day gross in September.
However, the Stanley-3 well production rates are "still yet to fully settle", Mosman said.
"We continue to be delighted with the progress at Stanley, and the clearly commercial flow rates being delivered underline the significant commercial success. Once Stanley-3 is fully settled, the operator's attention will move to Stanley-4," said Chair John Barr.
"The company continues to meet its objectives, and very much looks forward to the next wells being drilled," added Barr.
Mosman shares were trading 5.4% lower on Friday in London at 0.25 pence each.
By Evelina Grecenko; [email protected]
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