ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

MSMN Mosman Oil And Gas Limited

0.016
0.0015 (10.34%)
Last Updated: 09:02:10
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Mosman Oil And Gas Limited LSE:MSMN London Ordinary Share AU0000XINET1 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.0015 10.34% 0.016 0.015 0.017 0.016 0.014 0.0145 461,378,433 09:02:10
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs 2.25M -2.13M -0.0005 -0.40 801.84k

Mosman Oil and Gas Limited Operations Update (2189N)

07/08/2017 7:00am

UK Regulatory


Mosman Oil And Gas (LSE:MSMN)
Historical Stock Chart


From Mar 2019 to Mar 2024

Click Here for more Mosman Oil And Gas Charts.

TIDMMSMN

RNS Number : 2189N

Mosman Oil and Gas Limited

07 August 2017

7 August 2017

Mosman Oil and Gas Limited

("Mosman" or the "Company")

Operations Update

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, announces an update on Operations.

Strategy

Mosman's strategic objective remains to identify opportunities which will provide operating cash flow and have further development upside, in conjunction with adding value to our existing exploration permits.

Two acquisitions were completed in the last quarter and other potential acquisitions remain under review.

USA

Strawn (Texas): 50% interest and Operator

Since commencing as Operator in May 2017, Mosman's USA subsidiary has undertaken maintenance on the site in addition to well workovers, with further workovers scheduled in August.

Oil production for July 2017 was 440 bbls (gross) achieved with some weekly variability as the workovers were completed. A second shipment and sale of 177 bbls (gross) was achieved with circa 650 bbls (gross) of oil remaining in the inventory.

Work is continuing on-site to collate information to enable the existing database to be expanded, in order to facilitate the ranking of further production enhancement opportunities. Near term possibilities include surface facility improvements bringing additional existing wells back on production. Longer term potential being considered includes infill wells, horizontal wells, and waterflood.

Arkoma Stacked Pay Project (Oklahoma): 10% interest with options over a further 45%

Mosman's focus remains the technical work to estimate the Resources and to make the next investment decision in October 2017. The 3D Seismic data has been received and the geological model is being populated with data.

On-site, the Operator continues work to bring more wells on production and these activities are closely monitored with regular reporting and site visits by Mosman consultants. Mosman remains happy with the quality of the work being completed.

AUSTRALIA

Amadeus Basin Permits

Mosman owns and operates two granted permits (EP 145 & 156) and one application (EPA 155).

The Northern Gas Pipeline ("NGP") that has commenced construction, and from 2018 will provide access for Northern Territory gas to markets in Eastern Australia, is progressing.

In EP145: the field geologist report has recently been received. Importantly, the extensive report extends the geological information and exploration potential. The next step is to review the report in more detail and plan the future work programme.

In EP 156: the airborne survey data has been received and will be shortly interpreted and the data utilised to update the existing geological model.

In EP155: the next step in is to obtain native title approval, with a site visit scheduled for later this year.

NEW ZEALAND

Murchison

Mosman remains in discussions with NZPAM regarding the timing of the planned work programme, and the requested Change of Conditions for the permit.

Mosman continues to actively pursue farm-in investment to fund drilling. Marketing of the farm-in is currently being conducted through industry consultants and a media agency that works with NZPAM and other companies in New Zealand.

Petroleum Creek

Planning continues for the three wells drilled to be plugged and abandoned. It is expected that a suitable rig will be available in the September quarter to complete the tasks.

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          NOMAD and Broker 
  John W Barr, Executive            SP Angel Corporate Finance 
  Chairman                          LLP 
  Andy Carroll, Technical           Stuart Gledhill / Richard 
  Director                          Hail 
  jwbarr@mosmanoilandgas.com        +44 (0) 20 3470 0470 
  acarroll@mosmanoilandgas.com 
 Gable Communications Limited 
  Justine James / John Bick 
  +44 (0) 20 7193 7463 
  mosman@gablecommunications.com 
 

Updates on the Company's activities are regularly posted on its website:

www.mosmanoilandgas.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

UPDSSEFUMFWSESA

(END) Dow Jones Newswires

August 07, 2017 02:00 ET (06:00 GMT)

1 Year Mosman Oil And Gas Chart

1 Year Mosman Oil And Gas Chart

1 Month Mosman Oil And Gas Chart

1 Month Mosman Oil And Gas Chart

Your Recent History

Delayed Upgrade Clock