7 May 2024
Mosman Oil and Gas
Limited
("Mosman"
or the "Company")
Production Increases strongly at
Stanley
and progress at EP145
Mosman Oil and Gas Limited (AIM: MSMN) the
hydrocarbon, helium and hydrogen exploration, development, and
production company, provides an update on its Stanley project in
the US (34.85% to 38.5% WI) where the
recent gross production has increased 84% to circa 221 boepd (30
day average flow rate in April). This is a material improvement
from the recently notified March quarter gross average flow rate of
120 boepd.
This significant increase has been achieved following
a recompletion of Stanley-3 which is now flowing oil and gas.
The Company will provide details on production at all assets
as part of its June 2024 quarter update.
In Australia on EP 145, the A$160,000 payment, which
was due upon completion of the previously announced Farmin
Agreement with Greenvale Energy Pty Ltd (ASX:GRV), has been
received as expected. Additional prior exploration expenditure
amounts of circa A$100,000 will be invoiced and reimbursed under
the terms of the Farmin Agreement. In addition, an environmental
bond of circa $55,000 will be cashed in.
Andy Carroll, CEO of Mosman
commented: "I am pleased that the continued work on the Stanley project
is now achieving stronger production numbers, which improves
revenues and is a pre-requisite to sale of the asset in the future.
This combined with the progress made in Australia, with the
completion of the EP 145 Farmin, moves Moman into a more robust
position with a strengthened balance sheet."
Market Abuse
Regulation (MAR) Disclosure
The information contained within this announcement is
deemed by the Company to constitute inside information as
stipulated under the Market Abuse Regulations (EU) No. 596/2014
('MAR') which has been incorporated into UK law by the European
Union (Withdrawal) Act 2018. Upon the publication of this
announcement via Regulatory Information Service ('RIS'), this
information is now considered to be in the public domain.
Enquiries:
Mosman Oil & Gas Limited
Andy Carroll
CEO
acarroll@mosmanoilandgas.com
|
NOMAD and Joint Broker
SP Angel Corporate Finance
LLP
Stuart Gledhill / Richard Hail /
Adam Cowl
+44 (0) 20 3470 0470
|
Alma
Justine James / Will
Merison
+44 (0) 20 3405 0205
+44 (0) 7525 324431
mosman@almastrategic.com
|
Joint Broker
CMC Markets UK Plc
Douglas Crippen
+44 (0) 020 3003 8632
|
Updates on the Company's activities
are regularly posted on its website: www.mosmanoilandgas.com
Notes to editors
Mosman (AIM: MSMN) is an oil exploration,
development, and production company with projects in the US and
Australia. Mosman's strategic objectives remain consistent: to
identify opportunities which will provide operating cash flow and
have development upside, in conjunction with progressing
exploration of existing exploration permits. The Company has
several projects in the US, in addition to exploration projects in
the Amadeus Basin in Central Australia.