11th Apr 2019 15:06
LONDON (Alliance News) - Mosman Oil & Gas Ltd on Thursday said the partners have agreed a completion plan to bring the recently drilled Stanley-2 well, onshore Texas, US, into production.
Mosman has a 16.5% working interest in Stanley project.
The exploration, development and production company said the initial and primary completion zone proposed for Stanley-2 will be over the interval between 4,706 feet and 4,720 feet measured depth. The lower part of the completion zone shows good permeability, porosity and oil saturation, the company noted.
Mosman also said it has been informed by Nadsoil LLC, an operator of Stanley-2 and at Stanley-1 wells, that a nearby well in the same primary completion zone had an initial test rate of more than 100 barrels of oil per day.
Meanwhile, the proposed re-completion zone for Stanley-1 will be over the interval between 4,268 feet to 4,278 feet, Mosman said. From this completion zone four oil cores confirm good oil saturation, the company added.
Mosman and other parties have accepted the operator's recommendations on all completions, it said, and work will commence at Stanley-2 on Thursday.
"Mosman is delighted with the results from Stanley, which are a strong endorsement of the original investment decision by the Mosman board," said Chair John Barr.
Mosman shares were trading 16% higher on Thursday at 0.34 pence each.
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