4th Oct 2018 09:59
LONDON (Alliance News) - Mosman Oil & Gas Ltd said Thursday it sold the first gas from its Stanley-1 well, onshore UK, in September, although production continues to be constrained.
The company said the first tanker load from Stanley-1 was 190 barrels, with around 7 million cubic feet of gas sold, which does not represent the full amount produced.
"The production from Stanley-1 well continues to be constrained as previously reported. The ratio of liquid hydrocarbons to gas has varied and this indicates a steady state has not yet been reached," the company, which described itself as "extremely pleased" that the well started to generate sales, added.
Meanwhile, drilling of Stanley-2, in which Mosman holds a 16.5% stake, is expected to commence in November.
Mosman shares were trading down 3.8% at 0.50 pence each.
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