RNS Number : 8812T
Mosman Oil and Gas Limited
23 July 2020
 

23 July 2020

Mosman Oil and Gas Limited

("Mosman" or the "Company")

Six Month Production Summary

 

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, announces its production summary for the six months ended on 30 June 2020.

 

Net Production attributable to Mosman for the six months was 9,890 boe.

 

Production Details

 

Further details are outlined below:

 


6 Months to

30 June

2020

6 Months to

30 June

2020

6 Months to

31 December

2019

6 Months to

31 December 2019


Total Project

Net Attributable

Total Project

Net Attributable


Gross boe

Net boe

Gross boe

Net boe

Stanley

28,540

4,482

42,268

6,877

Greater Stanley

485

97

-

-

Arkoma

1,632*

276*

5,868*

1,124*

Welch

6,569

5,035

6,851

5,252

 

Total boe

 

37,226

 

9,890

 

54,987

 

13,253

* Figures for five months of the period

 

John W Barr, Chairman, said: "The current pandemic and the oil price fluctuations have all resulted in Mosman and the Operator of projects focusing their attention and operations on cashflow and costs rather than maximizing production. This together with Stanley-1 being offline, has of course led to production levels falling for the period.

 

"As recently announced the focus is now returning to production with two workovers and two new wells planned and now financed.

 

"Mosman is determined to continue to build its production base and is encouraged by the solid asset position it has established, combined with exploration potential."

 

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 John W Barr, Executive Chairman Andy Carroll, Technical Director jwbarr@mosmanoilandgas.com acarroll@mosmanoilandgas.com

 

NOMAD and Broker

SP Angel Corporate Finance LLP

Stuart Gledhill / Richard Hail / Soltan Tagiev

+44 (0) 20 3470 0470

 

 

Alma PR  

Justine James

+44 (0) 20 3405 0205

+44 (0) 7525 324431

mosman@almapr.co.uk

 

Joint Broker

Monecor (London) Ltd

trading as ETX Capital

Thomas Smith

+44 (0) 20 7392 1432                                                                                                           

 

Updates on the Company's activities are regularly posted on its website www.mosmanoilandgas.com

 

 

Definitions

 

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 to Mosman

Mosman's portion of Gross sales less royalties owed to leaseholders

Total Gross Production

boe produced on the project throughout the period. Includes oil still held as inventory

Net Production Attributable to Mosman

Mosman's portion of Total Gross Production 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.

 

 


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