REG - Mosman Oil & Gas - Improved production at Stanley

Mosman Oil and GasAnnouncement

06/12/2023 07:45

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RNS Number : 8522V  Mosman Oil and Gas Limited  06 December 2023

6 December 2023

 

 

Mosman Oil and Gas Limited

("Mosman" or the "Company")

 

Improved production 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, where surface and downhole equipment has recently
been installed resulting in an improved production profile.

 

Stanley (34.85% to 38.5% WI)

 

Following a period of production optimisation, the Company is pleased to
announce that production at the Stanley project has increased to approximately
90 bopd (5-day average gross oil).

 

Recent work at Stanley included installation of surface and downhole equipment
to boost production with jet pumps. The jet pump surface facility has been
changed to use natural gas direct drive engines rather than diesel or natural
gas fired electrical power generation and electric pumps. This change is
expected to result in lower operating costs due to reduced rental costs and no
fuel costs since the wells produce sufficient associated gas to run the
natural gas engines. Importantly, system downtime should be improved as the
natural gas engines are lower maintenance.

 

This production level has been achieved primarily with production from Stanley
4 and 5. Stanley 3 will be re-completed in another zone and is expected to add
production when re-completed later this month.

 

The Company will provide details on all the production assets as part of its
December 2023 quarter update expected to be announced in early 2024.

 

Andy Carroll, CEO of Mosman commented: "It is encouraging to have achieved
this improved production. The next phase is the recompletion at Stanley 3
which is anticipated to result in additional production."

 

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                                 +44 (0) 20 3470 0470
 Alma                                                         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@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.

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