Cinnabar Lease
(75% Working Interest)
Mosman has a 75% working interest in the circa 350 acre Cinnabar Lease in East Texas.
There are two wells that have produced oil since the 1980s. In 2022, Mosman drilled the Cinnabar-1 successfully to a depth of 9,900 feet. Multiple oil bearing Wilcox Sands from 9,050 feet to 9,850 feet. .
Subsequently, an updated Reserve Report was commissioned. The details of which are stated below (thousands of barrels of oil equivalent “MBOE”):
Proved Developed Producing | Proved Developed Behind Pipe | Proved Undeveloped | Total Proved | Total Probable | Total Proved Plus Probable |
|---|---|---|---|---|---|
302 | 147 | 1,132 | 1,581 | 65 | 1,646 |
This Reserves Report was prepared by a third-party independent petroleum engineering firm and conforms to SPE-PRMS petroleum guidelines. The royalties on the lease are circa 25%.
Arkoma Stacked Pay Project
(held for sale)
Mosman’s wholly owned US subsidiary Mosman Texas LLC owns a 27% interest in the Arkoma Stacked Pay Project, located in Okfuskee County, Oklahoma. The Operator of the project is Inland Operating Company which also own an interest in the project together with a third party.
