Mosman Oil And Gas Share Discussion Threads

[bulgarian] 08/5/2019 19:22

Good to see the CEO in London on a couple of paid for PR events, and with a shiney new corporate presentation.

Where's spraywit when there is a requirement to put one + one together and make 149?

Guffaw.

[andromada] 08/5/2019 04:22

Farm In Agreement

Two Well Drilling Program in East Texas

Summary

• Xstate Resources will acquire a 25% working interest by funding a 33% interest in an onshore exploration project in Texas comprising a two well drilling program in addition to follow up opportunities.

• The two high impact wells to be drilled commencing early Q3 2019 will target large 3D defined structures with multiple reservoir objectives nearby existing oil fields.

• The projects to be drilled are close to strong oil markets and existing infrastructure with the potential for rapid development and early production.

• The Farmin provides firm, near term activity and rapid cash flow potential which diversifies and complements Xstate’s high risk / reward Californian gas exploration projects.

• The planned two well drilling progam will cost the Company approximately US$400,000 and will be funded from existing cash reserves.

• Further asset expansion opportunities in the USA and Canada are currently being assessed.

Comments

Xstate Resources Limited (ASX: XST) (“Xstate”; or “the Company” is pleased to announce that it has entered into a Binding Farm In Agreement (“Agreement221; to acquire a working interest in the Champion Project Area (“Champion Project”;) onshore Newton County, Texas.

The Transaction provides diversification to Xstate’s exploration portfolio by adding “ready made” projects with imminent drilling and the potential for near-term oil production in the USA, until further advancements can be made on the Company’s̵7; high risk / reward potential Californian gas exploration projects.

Under a farmin agreement with Mosman Oil & Gas Ltd (AIM:MSMN) Xstate may earn a 25% interest by funding 33.33% of a planned two well program, up to an agreed cost “cap”. The estimated cost to Xstate is approximately US$0.4 million. The initial well is expected to commence drilling early 3Q 2019 and is targeting 1.9 BCF of gross mean resource potential and the second well is planned for late 2019 and is targeting 357 MBO of gross mean resource potential.

Xstate’s commitment to drill two wells in the Champion Project represents a prudent and appropriately-sized acquisition for the Company at this juncture. Whilst Texas signifies a strategic geographic shift for the Company, the operating team is well known to Xstate’s management, there is near term drilling activity and there are numerous follow up additional opportunities, in both exploration and production in the area of operations.

The associated drilling investment options provide an excellent platform for growth,. The potential cash flow from drilling success will be used for further development and appraisal activities and the potential development of additional projects currently under review. The location of the assets adjacent to other oil discoveries also provides opportunities for growth and aggregation.

As a result of this transaction Xstate will develop on the ground operational capability and gain access to commercially aligned operational relationships in Texas, which will enable the identification, evaluation and potential purchase/farm in of additional production opportunities in line with the Company’s investment strategy.

The Company continues to actively seek to identify and evaluate further asset opportunities that meet Xstate’s investment criteria and are capable of being delivered in a timely and cost effective manner.


Champion Project, Newton County Texas – Xstate 25% WI1

The Champion Project is located in Newton County, East Texas and has several drilling locations identified using the same 3D seismic. The Champion Project was identified and sourced by Baja Oil & Gas LLC (“Baja”, a private company located Houston, Texas. Baja holds a 40% interest and will be the
Operator. Key highlights:


• 240 gross acre; comprises Initial and Subsequent wells (Galaxie and Falcon wells);

• Multiple potential reservoirs (Frio sand, Hackberry member and others), most objectives at shallow depths <8,000’; low cost drilling;

• Excellent reservoir properties, high recovery factors

• Additional acreage available along trend; and

• A further four (4) prospects and leads defined by modern 3D seismic.

[kippy123] 03/5/2019 09:43

Looks like the share price has stabilised
Around 0.46 for the last week think it has found its level for now

[spary1] 02/5/2019 21:28

Bulgarian or should I say Kevarian, why don’t you go post on shares you actually own and stop trolling here, no thought for any share holder just your own agenda. Do the descent thing and use your other multiple identities and keep to shares you own 👍

[spary1] 02/5/2019 19:11

Lmao Kev Jones, seriously dude you are a nut job, only got to look at your posting history, if your sad enough to troll me then shows I’m a threat to your trolling hence your hardon for me, the loony bin lost an inmate, I’ll tell them I found you 😂😂

[spary1] 01/5/2019 18:10

Kevarian you really do need to seek medical help, trolling me with you lies and deceit really isn’t t healthy fella 🙄

[kevjones2] 01/5/2019 11:59

More spray posts removed from GC this morning. See posts above especially this part:

"No doubt Spray will continue to lie and then feign outrage and shock when his deliberate lies are removed by LSE admin. Seeing him sucking others in to this mm conspiracy is embarrassing. The share price of all companies are where they're at because that's the way the market sees them. MSMN is a mere dot on the financial landscape."

Poor barsteward just can't help himself.

[spary1] 30/4/2019 20:32

Kev Jones, considering I said some of the trades in red were not sells and plenty of others posting the same thing then I fail to see where that is lying, because it’s not!! even a Simpleton like yourself can see when trades in red are higher than the previous red trade, it’s not a sell 🙄 obviously I’m still just a deflection to get your trolling of Mosman across, very sad, as is your posting history 🙄

[kevjones2] 30/4/2019 16:59

Spray continues to lie on Goon Central by pretending their listed trades are fact even though he's been told numerous times that they are guidelines based on a mathematical algorithm, and that the mms have zero influence on LSE's website operation. The liar never, ever whines when sells appear as buys. Here he is being schooled yet again on how the trades presented on LSE work. Thanks to the very good poster who uses the name 'cheapskater':


"The algorithm LSE uses to denote a buy or a sell is pretty basic. The market records a trade at a certain price. It it is marked on here on anywhere as a sell or a buy is down to where it falls between the bid and ask. Abov ethe mid point it's said to be a buy and blue below the midpoint it's said to be a sell. I think we've all had buys marked as sells. It just means we got a good price through our dealing platform. MMs don't agree on bid and ask, anyone with Level 2 view can see that so the recorded bid/ask on here isn't necessarily the one your deal was made with. This is why trades are displayed incorrectly. i would be better if they were recorded as initiated as a sell or a buy and not just as a trader where there is a seller and a buyer. I wish trades were recorded the way they are made but the answer is they just aren't at the moment so the above/below mid point of what most MMs say is the bid/ask is all we have as an indicator.

The other issue you have with MMs is that they walk bid/ask it down quickly and walk them up slowly. I suspect that's done through an automated algorithm too as you can't expect people to be watching the market and moving thises things up and down. If they raise the bid too fast then automated short term trading platforms and day traders unload at small profit threshold so the bid is dropped back down on a fewer number of sells which stops them from unloading any more, it basically put the brakes on share price volativity and stops too many short term trading plaforrms from making 5 small buys to raise the price and then 1 big sell to reap the reward. That would really be market manipulation. It's volatile enough in here at the moment as it is, but if that were allowed to happen then it would be no fun at all for the manual trading invester.

So take a chill pill and just wait for news and if the share price hits your price point sell out. To me the fundamentals of what is going on with MSMN are good. I'm gambling on bigger numbers from Stanley 1 and a probably recompletion of Stanley 2 in a month or so as the gas saturation in the oile seems a bit high. I'm also hoping for the Santos drill announcing hitting commercial gas and helium from mid May. All that's going to speculatively shift the share price I'm just patient."

No doubt Spray will continue to lie and then feign outrage and shock when his deliberate lies are removed by LSE admin. Seeing him sucking others in to this mm conspiracy is embarrassing. The share price of all companies are where they're at because that's the way the market sees them. MSMN is a mere dot on the financial landscape.

[daar] 30/4/2019 16:26

Damn some one loading big time now

[daar] 30/4/2019 10:02

Break of 0.57p would be interesting

[rmart] 30/4/2019 09:32

nice quiet bb whilst we move to a penny would be good.

[rmart] 30/4/2019 08:29

So much done already. Mosman have a licence right next door to this drill.

Central announced a Southern Amadeus farm-out with Santos targeting significant unconventional gas exploration in 2012. Since that time, the JV has completed 2 decision point stages of that exploration programme, including over 3,300 km of seismic and other geological studies. On 31 October 2018, Santos confirmed their intent to enter the final phase 3 of the EP112 farm-out consisting of one exploration well.

[rmart] 30/4/2019 08:21

from rns today...

Located approximately 175km south west of Alice Springs, the Dukas-1 well is an incredibly exciting active exploration opportunity for the Company. All permits and approvals were awarded with pad construction undertaken during the quarter and the well spudded on 16 April 2019. The well is anticipated to reach total depth by mid-CY2019. The Dukas gas prospect is a large structure that could have multi-TCF potential (30% net to Central) that, in a success case, would be company changing. In addition, several other large ‘lookalike&rsquo; sub-salt closures have been identified from interpretation of seismic acquired in the Southern Amadeus basin between 2016 and 2018. As such, Dukas-1 has the potential to unlock a significant new hydrocarbon province in the Southern Amadeus Basin and become a major new source of gas for the east coast market. Santos is carrying 100% of the cost of this well as part of the final phase of the farm-out in which they will earn a 70% interest in EP112.


Time to fill your boots on Mosman as if this drill is a success Mosman will fly.

[bulgarian] 29/4/2019 20:39

They will start well testing for up to 90 days after the drill is completed.

I would expect Santos will let the market know when they have completed drilling.

It's a wildcat / pure exploration play. Best to have no expectation and anything else is a bonus.

Regardless, IMHO all this value add of a successful outcome means diddly if the dynamic duo fail to attract a JV. And they have been marketing it for a long time.

just for balance of course.

[rmart] 29/4/2019 16:59

Bulgarian, yes final well results maybe June, however as you know, if they hit payzones during the drill they could make some interim announcements.

[bulgarian] 29/4/2019 13:37

Very interesting indeed. The Central MD also suggesting that results from the drill should start becoming known from mid year onwards.

Kind of correlates with what the Santos report states about 90 days well testing after drill and completion.

Not what the Pom Pom wavers suggest about results being imminent, today tomorrow blah blah BS.

[rmart] 29/4/2019 13:09

well worth a listen



from 2 mins in. Very exciting about Dukas Drill.

[bulgarian] 27/4/2019 20:10

Like clockwork ^.