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.

Mosman Oil and Gas Ltd said the Winters-2 well in Polk County Texas was drilled to target depth and encountered potential pay in the Yegua and Wilcox sands.

Winters-2 was drilled to the target depth of 7,011 feet and wireline logs, side wall cores and formation pressure tests were completed, the company said in a statement.

Winters-2 is being completed in the Third Wilcox which has a gross thickness of 54 feet, Mosman said. Flow rates will be made available when known after production facilities are installed.

The drilling rig will move to the Stanley-5 well location where drilling is slated to start next week.

() 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 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 & 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.