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Stanley Development Project

Mosman has acquired a 16.5% working interest in this Project by paying 22% of the first two wells and reimbursing a small amount of previous expenditure.  

The Stanley Development Project is supported by Baja’s interpretation of 3D seismic data, integrated with substantial sub-surface well control, and legacy production information.  The first well to be drilled was Stanley-1 which commenced on 19 July 2018.  The well reached the planned target depth of 7000 feet and hydrocarbon shows were recorded at multiple reservoir levels.  Stanley-1 is currently flowing gas and liquid hydrocarbons (condensate).  Production is currently and temporarily constrained by existing surface equipment limitations.  Once the surface facilities are upgraded Baja expects to increase average daily production to approximately 230 boepd.  Production from the well will initially be high yield natural gas and liquid hydrocarbons, and Baja expects that the production mix will change from natural gas with substantial liquid hydrocarbons to oil with substantial associated natural gas.

Given the success of Stanley-1 planning has commenced on the next proposed well being Stanley-2 which should be drilled in 2018.