Mosman Oil and Gas Limited Production Update (0416D)
February 14 2020 - 3:02AM
UK Regulatory
TIDMMSMN
RNS Number : 0416D
Mosman Oil and Gas Limited
14 February 2020
14 February 2020
Mosman Oil and Gas Limited
("Mosman" or the "Company")
Fifth Consecutive Six Month Production Increase
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration,
development and production company, is very pleased to announce its
fifth successive production increase since reporting started in
June 2017 and provides the following production information for the
six months ending 31 December 2019.
Production Summary for the six months ending 31 December
2019
Net Production attributable to Mosman for the six months was
13,253 boe, an increase of c 13% which follows the c 81% increase
in the six months to June 2019.
Production Details
Further details are outlined below:
6 Months 6 Months to 6 Months to 6 Months to
to 31 December 30 June 2019 30 June 2019
31 December 2019
2019
Total Project Net Attributable Total Project Net Attributable
============== ================= ============== =================
Gross boe Net boe Gross boe Net boe
============== ================= ============== =================
Stanley 42,268 6,877 14,153 2,353
============== ================= ============== =================
Welch 6,851 5,252 6,210 4,760
============== ================= ============== =================
Arkoma 5,868* 1,124* 16,945 4,227
============== ================= ============== =================
Strawn ** - - 503 402
============== ================= ============== =================
Total boe 54,987 13,253 37,811 11,742
============== ================= ============== =================
* Figures for five months of the period only as Mosman is
awaiting December figures for Arkoma
**Strawn project was sold in June 2019
John W Barr, Chairman, said: "This is the fifth consecutive six
monthly period of oil production increases and clearly demonstrates
the success of the strategy adopted.
"Mosman continues to build on its production base and is
encouraged by the growth at Stanley, where the first three wells
are producing with the fourth well on schedule to be drilled this
month. Production at Stanley in 2020 has commenced in line with the
average for the previous six months with a programme of
recompletions now underway where required."
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
jwbarr@mosmanoilandgas.com / Soltan Tagiev
acarroll@mosmanoilandgas.com +44 (0) 20 3470 0470
Alma PR
Justine James
+44 (0) 20 3405 0205
+44 (0) 7525 324431
mosman@almapr.co.uk
Updates on the Company's activities are regularly posted on its
website www.mosmanoilandgas.com
D efinitions
boe or BOE barrels of oil equivalent
This is both oil and gas and includes
the gas converted to oil barrels using
a standard industry formula
Gross Sales Reference to sales is boe that has been
sold from the project throughout the
period
=============================================
Net Sales Attributable Mosman's portion of Gross sales less
to Mosman royalties owed to leaseholders
=============================================
Total Gross Production boe produced on the project throughout
the period. Includes oil still held as
inventory
=============================================
Net Production Attributable Mosman's portion of Total Gross Production
to Mosman less royalties owed to leaseholders
=============================================
Total Project Basis Refers to performance of Sales or Production
on a
100% basis of the four projects that
Mosman has invested in.
=============================================
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 rns@lseg.com or visit www.rns.com.
END
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