9th Sep 2019 12:01
(Alliance News) - Mosman Oil & Gas Ltd said on Monday the Stanley-3 well in Texas has been completed.
Mosman has been advised that a six-foot interval within the 4,800 Sand target was perforated during well completion operations. During flow testing, the stabilised rate from this interval was 192 barrels of oil per day on an 8/64 inch choke. The recovered fluid was 100% oil.
The optimal production rate for the reservoir will be determined by the operator in due course, Mosman said.
Mosman has a 14.9% working interest in the well.
Chair John Barr said: "We are delighted with the progress at Stanley, with Stanley-3 delivering significant commercial success, as we build on our production growth. This further reinforces the whole investment strategy pursued by Mosman, and we look forward to continued success with Stanley-4 being the next well to be evaluated."
Shares in Mosman were down 4.5% at 0.29 pence in London on Monday.
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