REG - Mosman Oil & Gas - Cinnabar Well Frac Update

Mosman Oil and GasAnnouncement

31/08/2023 08:45

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RNS Number : 9413K  Mosman Oil and Gas Limited  31 August 2023

31 August 2023

Mosman Oil and Gas Limited

("Mosman" or the "Company")

 

Cinnabar Well Frac Update

 

Mosman Oil and Gas Limited (AIM: MSMN) the oil and gas exploration,
development, and production company, provides an update on recent activities
at the Cinnabar Project in Texas, USA.

 

As advised in the Company's RNS dated 11 August 2023, Mosman has completed a
detailed development plan for the Cinnabar lease which has three production
wells. Production from the wells was included in the gross quarterly
production numbers of 1,775 boe. The plan is being implemented with gas
infrastructure upgraded to enable gas lift either from produced gas or
purchased gas.

 

Recently, a frac was completed at the G-2 production well. The frac has
successfully connected the First Wilcox reservoir zone to the production well
and enabled the zone to flow. The well has been swabbed to recover frac fluids
and initial flow established. The well is currently being produced
intermittently by allowing pressure to build up and flowing for a while before
shutting in to allow pressure to build. When a steady flow rate is
established, a further announcement will be made.

 

The Cinnabar Field is in Tyler County Texas, approximately 30 miles north of
Beaumont, Texas. It was discovered in 1988 by Ballard Exploration's G-1 well
which found multiple pay zones in the Wilcox Formation from depths of
approximately 9,000 feet to 10,400 feet. Mosman owns a c.75% working interest
in the well and the 350-acre lease. Mosman Operating LLC, a 100% owned
subsidiary of Mosman, is the Operator of the lease.

 

John W Barr, Chairman, said: "It is positive that the workover at the historic
G-2 well has led to initial flow being established. We continue to move
forward to optimise production of both oil and gas at Cinnabar."

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

 John W Barr, Executive Chairman Andy Carroll, Technical Director     SP Angel Corporate Finance LLP
 jwbarr@mosmanoilandgas.com (mailto:jwbarr@mosmanoilandgas.com)

 acarroll@mosmanoilandgas.com (mailto:acarroll@mosmanoilandgas.com)   Stuart Gledhill / Richard Hail / Adam Cowl

                                                                      +44 (0) 20 3470 0470
 Alma PR                                                              Joint Broker

 Justine James                                                        CMC Markets UK Plc

 +44 (0) 20 3405 0205                                                 Douglas Crippen

 +44 (0) 7525 324431                                                  +44 (0) 020 3003 8632

 mosman@almapr.co.uk (mailto:mosman@almapr.co.uk)

 

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
its existing exploration permit and permit application. The Company has
several projects in the US. In addition to exploration projects in the Amadeus
Basin in Central Australia.

 

Glossary:
 boe                       Barrels of oil equivalent based on calorific value as opposed to dollar value
 boepd                     Barrels of oil per day of oil equivalent based on calorific value as opposed
                           to dollar value
 bopd                      Barrels of oil per day
 Gross Project Production  Means the production of BOE at a total project level (100% basis) before
                           royalties (where Mosman

                           is the Operator) and where Mosman is not the operator the total gross
                           production for the project
 Mcf                       Thousand cubic feet
 Mcfpd                     Thousand cubic feet per day
 MBtu                      One thousand British Thermal Units
 MBtupd                    One thousand British Thermal Units per day
 MMBtu                     One million British Thermal Units
 MMBtupd                   One million British Thermal Units per day
 Net Production            Net to Mosman's Working Interest; Net Production attributable to Mosman means
                           net to Mosman's

                           Working Interest before royalties

 

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