For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240216:nRSP4192Da&default-theme=true
RNS Number : 4192D Mosman Oil and Gas Limited 16 February 2024
16 February 2024
Mosman Oil and Gas Limited
("Mosman" or the "Company")
Production Increase at Stanley
Mosman Oil and Gas Limited (AIM: MSMN) the hydrocarbon, helium and hydrogen
exploration, development, and production company, provides an update on its
Stanley project in the US (34.85% to 38.5% WI) where the recent gross
production has increased to circa 93 bopd (five-day average flow rate). This
is a material improvement from the recently notified December quarter gross
average flow rate of 43 bopd.
This has been achieved following a period of production equipment
reconfiguring and optimisation, including the installation of surface and
downhole equipment to boost production with jet pumps. Whilst this increased
production rates, it also introduced an issue of fine sand production.
Initially this was managed by screens, but the sand blocked the screens and
resulted in periodic shut-downs. The issue has now been resolved by using
settling tanks.
The Company will provide details on all the production at all assets as part
of its March 2024 quarter update expected to be announced by early May 2024.
Andy Carroll, CEO of Mosman commented: "I am pleased that the continued work
on the Stanley project is now achieving stronger production numbers.
"This flow rate is positive for commercialisation of the asset through ongoing
cashflow or sale of the asset."
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the
European Union (Withdrawal) Act 2018. Upon the publication of this
announcement via Regulatory Information Service ('RIS'), this information is
now considered to be in the public domain.
Enquiries:
Mosman Oil & Gas Limited NOMAD and Joint Broker
Andy Carroll SP Angel Corporate Finance LLP
CEO Stuart Gledhill / Richard Hail / Adam Cowl
acarroll@mosmanoilandgas.com (mailto:acarroll@mosmanoilandgas.com) +44 (0) 20 3470 0470
Alma Joint Broker
Justine James / Will Merison CMC Markets UK Plc
+44 (0) 20 3405 0205 Douglas Crippen
+44 (0) 7525 324431 +44 (0) 020 3003 8632
mosman@almastrategic.com (mailto:mosman@almastrategic.com)
Updates on the Company's activities are regularly posted on its website:
www.mosmanoilandgas.com (http://www.mosmanoilandgas.com)
Notes to editors
Mosman (AIM: MSMN) is an oil exploration, development, and production company
with projects in the US and Australia. Mosman's strategic objectives remain
consistent: to identify opportunities which will provide operating cash flow
and have development upside, in conjunction with progressing exploration of
existing exploration permits. The Company has several projects in the US, in
addition to exploration projects in the Amadeus Basin in Central Australia.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END MSCGPUGCPUPCUQQ