4th Mar 2019 12:49
LONDON (Alliance News) - Mosman Oil & Gas Ltd said Monday it advised the operator to start production from the Sparta reservoir at its Stanley-1 well in the US.
The oil & gas exploration and development firm added that Sparta production will require a straightforward recompletion at a shallower depth.
With regards to Stanley-2, Mosman said that site preparation for the well's drilling has been completed.
However, due to heavy rainfall the company is not able to confirm a spud date.
Chair John Barr said: "We look forward to producing the Sparta reservoir that is expected to produce oil. We are also pleased that the winter wet weather season ended and that allowed for construction works to be completed at the Stanley-2 drilling location."
Mosman shares were trading up 2.9% at 0.25 pence each.
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