Mosman Oil and Gas Limited Stanley Update (7374R)

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RNS Number : 7374R

Mosman Oil and Gas Limited

04 March 2019

4 March 2019

Mosman Oil and Gas Limited

("Mosman" or the "Company")

Stanley Update

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, advises an update in respect to the Stanley wells located in Polk County, USA.

Mosman has now been advised as follows;

Stanley-1

As already reported on 6 February 2019, Stanley-1 produced 6,071 Gross BOE (Net 1,002 to Mosman) between the commencement of production in September 2018 and 31 December 2018. Mosman and its strategic partner (Baja Oil and Gas, LLC) have recommended that the operator commence production from the Sparta reservoir, which will require a straightforward recompletion at a shallower depth.

Stanley-2

The site preparation for the drilling of the Stanley-2 well has been completed.

However last week the area was again subject to extended and substantial rainfall, so no spud date can currently be predicted.

John W Barr, Chairman, said: "We look forward to producing the Sparta reservoir that is expected to produce oil. We are also pleased that the winter wet weather season ended and that allowed for construction works to be completed at the Stanley-2 drilling location. The Company will keep the market updated as appropriate"

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 Chairman     SP Angel Corporate Finance LLP 
  Andy Carroll, Technical Director    Stuart Gledhill / Richard Hail 
  [e-mail]          / Soltan Tagiev 
  [e-mail]        [phone] 
 Gable Communications Limited        Joint Broker 
  Justine James / John Bick           SVS Securities Plc 
  [phone]                Tom Curran / Ben Tadd 
  [e-mail]      [phone] 
 

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 [e-mail] or visit www.rns.com.

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March 04, 2019 04:53 ET (09:53 GMT)