RNS Number : 019DMosman Oil an Gas Limite17 October 2022160

17 October 2022

Mosman Oil an Gas Limite

("Mosman" or the "Company")

Q1 Prouction Upate

Excellent Results Achieve post Q1 from Workovers160160160160160160

Mosman Oil an Gas Limite (AIM: MSMN) the oil exploration, evelopment an prouction company, announces its prouction summary for the three months ene 30 September 2022 ("Q1" or "September Quarter").

The Company has a portfolio of evelopment an exploration projects, with a clear focus on maximising the opportunity for further prouction growth an increasing cashflow. In aition to its US projects, Mosman has two exploration areas in Australia which are well positione to take avantage of the increasing eman for Helium an Hyrogen, in aition to Oil an Gas.

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US Prouction

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Gross Prouction showe steay increases across the Company's projects save for the Falcon well which is currently shut-in pening a review. Net Prouction attributable to Mosman for Q1 was 6,98 boe (three months to 30 June 2022 of 8,81 boe). The results reflect continue strong prouction at Stanley an Winters. Notably, the loss of gas prouction at Falcon has been mitigate by higher value oil prouction increases at Stanley.

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At Stanley, several recent workovers have increase both oil an gas prouction resulting in the recent five-ay average gross prouction at Stanley an Winters combine achieving 193 bop an 628 mcf or circa 300 boep in aggregate. That compares to 218 boep (gross) in the June Quarter etaile below.

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The priority this quarter has been increasing prouction at Stanley an rilling at Cinnabar. Priorities on all projects, incluing Falcon, will be reviewe when we have results from Cinnabar.

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Prouction Summary

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3 Months to

30 September 2022

3 Months to

30 June 2022


boe

boe


Gross Project Prouction

Net Prouction to Mosman

Gross Project Prouction

Net Prouction to Mosman


Gross boe

Net boe

Gross boe

Net boe






Stanley

8,270

3,17

7,310

2,806

Winters

11,644

2,717

11,042

2,76

Greater Stanley

31

106

343

69

Arkoma

3,842

960

1,973

493

Falcon

-

-

3,828

2,871

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Total boe

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24,287

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6,98

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24,496

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8,81

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The Net Prouction of 6,98 boe prouce in the September Quarter consiste of 2,973 barrels of oil an 23,113 MMBtu of gas. The average sale prices achieve uring the perio was US91.3 per barrel for oil an US6.99 (July an August only) per MMBtu for gas (June quarter was US109.24 an US.81, an in each case after transport an processing costs but before royalties).

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Prouction numbers in the September Quarter are base on the current best available ata (incluing fiel ata if necessary) an are subject to ajustment upon receipt of final sales invoices from the purchasers of proucts. 160

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John W Barr, Chairman, sai: "Mosman is please to report a soli quarter of prouction, particularly factoring in the current halt in prouction at Falcon.

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"We continue to make steay progress, with further evelopment potential in existing leases. Notably, the recent workovers at Stanley an the expecte results from the Cinnabar-1 well also provie optimism that the December quarter will be even stronger."

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Market Abuse Regulation (MAR) Disclosure

The information containe within this announcement is eeme by the Company to constitute insie information as stipulate uner the Market Abuse Regulations (EU) No. 96/2014 ('MAR') which has been incorporate into UK law by the European Union (Withrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service ('RIS'), this information is now consiere to be in the public omain.

Enquiries:

Mosman Oil Gas Limite John W Barr, Executive Chairman Any Carroll, Technical Director

jwbarr@mosmanoilangas.com acarroll@mosmanoilangas.com

NOMAD an Joint Broker

SP Angel Corporate Finance LLP

Stuart Glehill / Richar Hail / Aam Cowl

+44 (0) 20 3470 0470

Alma PR

Justine James

+44 (0) 20 340 020

+44 (0) 72 324431

mosman@almapr.co.uk

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Joint Broker

Monecor (Lonon) Lt traing as OvalX Thomas Smith

020 7392 1432

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Upates on the Company's activities are regularly poste on its website:

www.mosmanoilangas.com

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Notes to eitors

Mosman (AIM:MSMN) is an oil exploration, evelopment, an prouction company with projects in the US an Australia. Mosman's strategic objectives remain consistent: to ientify opportunities which will provie operating cash flow an have evelopment upsie, in conjunction with progressing exploration of existing exploration permits. The Company has several projects in the US, in aition to exploration projects in the Amaeus Basin in Central Australia.

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Glossary

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boe

Barrels of oil equivalent base on calorific value as oppose to ollar value

boep

Barrels of oil per ay of oil equivalent base on calorific value as oppose to ollar value

bop

Barrels of oil per ay

Gross Project Prouction

Means the prouction of BOE at a total project level (100% basis) before royalties (where Mosman is the Operator) an where Mosman is not the operator the total gross prouction for the project

Mcf

Thousan cubic feet

Mcfp

Thousan cubic feet per ay

MBtu

One thousan British Thermal Units

MBtup

One thousan British Thermal Units per ay

MMBtu

One million British Thermal Units

MMBtup

One million British Thermal Units per ay

Net Prouction

Net to Mosman's Working Interest Net Prouction attributable to Mosman means net to Mosman's Working Interest before royalties

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