REG - Mosman Oil & Gas - Production Increase at Stanley

Mosman Oil and GasAnnouncement

16/02/2024 07:00

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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.

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