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Mosman Oil & Gas - Stanley-3 Drilling Update

RNS Number : 7023I
Mosman Oil and Gas Limited
12 August 2019
 

12 August 2019

Mosman Oil and Gas Limited

 ("Mosman" or the "Company")

 

Stanley-3 Drilling Update

 

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, advises that the Stanley--3 well in Texas has completed drilling after reaching the target depth of 5,100 feet.

 

Drilling was completed successfully, on time and on budget. Several zones of interest were identified while drilling, in line with expectations. The next operations will be to log the well and evaluate the target zones. Once a zone is selected for production, the well will be completed, and flow tested to temporary tanks. It is anticipated that these will be replaced with permanent production facilities in due course. Flow rates will be advised when data is available.

 

Mosman holds a 14.85% working interest in Stanley-3, which is part of the Strategic Alliance with Baja Oil & Gas, LLC.

 

 

John W Barr, Chairman, said: "Following the success of Stanley-1 and 2, this drilling campaign has delivered on plan, with logging now underway in order to evaluate the target zones.

 

"We are pleased to deliver this next step, further demonstrating the teams ability to deliver on its business plan. Attention will shortly turn to considering Stanley-4, as well as the ongoing preparation for the drilling of Falcon-1." 

 

 

Competent Person's Statement

The information contained in this announcement has been reviewed and approved by Andy Carroll, Technical Director for Mosman, who has over 35 years of relevant experience in the oil industry. Mr. Carroll is a member of the Society of Petroleum Engineers.

 

 

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside

information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

 

 Enquiries:

 

Mosman Oil & Gas Limited

John W Barr, Executive Chairman

Andy Carroll, Technical Director

[email protected]

[email protected]

 

NOMAD and Broker

SP Angel Corporate Finance LLP

Stuart Gledhill / Richard Hail / Soltan Tagiev

+44 (0) 20 3470 0470

 

Gable Communications Limited

Justine James / John Bick

+44 (0) 20 7193 7463

[email protected]

 

 

 

 

 

 

 

Updates on the Company's activities are regularly posted on its website www.mosmanoilandgas.com

 


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 [email protected] or visit www.rns.com.
 
END
 
 
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