30th Aug 2019 17:42
(Alliance News) - Mosman Oil & Gas Ltd said Friday it identified several potential pay zones at its Stanley-3 well in the US state of Texas following drilling, with flow rates set to be ascertained.
Drilling at the Stanley-3 well was completed to the planned 5,144 feet depth. Following evaluation, Mosman said that "several potential pay zones" were identified.
The drilling rig is now on-site and is preparing to complete the well. Flow rates and other details with regards to these pay zones will be ascertained when the data is available.
"We have a 100% success rate at Stanley with three successful wells," Mosman Chair John Barr said.
"Given the success of this well, Mosman looks forward to getting flow rates soon and near-term consideration of Stanley-4," Barr added. "Mosman executives will meet various parties in Houston and on site to consider this and other matters."
"The company continues to meet its stated objectives of building production," Barr concluded.
Shares in Mosman closed 20% higher at 0.30 pence in London on Friday.
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