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Mosman Oil & Gas Ltd successfully drills Stanley-5 well

The latest successful well is expected to boost production.

Mosman Oil and Gas Ltd (AIM:MSMN) completed the drilling of the Stanley-5 well in east Texas, identifying several oil bearing sands.

The company, in a statement, said the well will be completed for production and flow rates will be published as they become available.

“This fifth successful well at Stanley is the next step to building on our delivery against the strategic objective to increase production, in addition to the recent successful wells drilled at Falcon and Winters,” said chair John Barr.

“The combination of these developments, increased equity at our Stanley and Falcon projects and the much stronger oil and gas sales prices, means increased revenues and growth. 

“The higher prices should also increase the potential value of the Cinnabar redevelopment project, where technical work continues to identify drilling locations.”

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2021-11-03 03:48:00

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