Mosman Oil and Gas moves onto bigger opportunities after Falcon success

Mosman operates in politically stable countries with a strategy of expansion through Organic growth (exploration of existing permits) and Strategic growth (acquisition of new permits, mergers or takeovers).

Mosman strategic objective remains to identify opportunities which will provide operating cash flow and have development upside, in conjunction with exploration of existing exploration permits.

() told investors it will next drill the Stanley-5 well, with a plan to mobilise the rig after the completion of drilling at the Winters site.

Stanley-5 is described as a development targeting the Yegua formation.

“Mosman is pleased with the current drilling activity that we had planned for this year to achieve the strategic objective of increasing production,” said Mosman chair John Barr.

The company will own a 36.5% stake in the well, an increased interest as a result of the July acquisition of Nadsoilco LLC. It expects its share of well drilling costs will be around US$350,000, to be paid from existing cash resources.

Mosman Oil and Gas Ltd (AIM:MSMN) told investors that the Winters-2 well has now spud.

Winters-2, located in Polk County, Texas, has so far been drilled down to 1,445 feet and is expected to reach target depth next week.

Mosman Oil and Gas Ltd (AIM:MSMN) told investors it expects the Winters-2 well in Texas to be spud in the next few days.

The company, in a brief statement, said equipment for the well programme has started to arrive on site.

Mosman Oil & Gas Plc (LON:MSMN) is set for a very different second half of 2021 thanks to its production-led growth strategy, that’s according to stockbroker SP Angel.

AIM-quoted Mosman on Wednesday released its first half results statement for 2020 and told investors it had begun the third quarter with “renewed vigour”.

The company said that it is to focus on drilling activity and its position is boosted by its increased interest in the Greater Stanley project. It reported gross production of 34,569 barrels of oil from its operations over the first half, which works out as 9,871 barrels net to Mosman.

Mosman Oil and Gas Ltd‘s (LON:MSMN) Andy Carroll speaks to Proactive’s Andrew Scott soon after announcing they’ve received approval from the Australian authorities to conduct its proposed airborne gravity and gradiometry survey over EP 145, in the Amadeus Basin in the Northern Territory.

It is anticipated that the company’s contractor will start the data acquisition programme in the week commencing 5 July 2021.