Six Month Production Summary

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 [e-mail] [e-mail]	NOMAD and Broker SP Angel Corporate Finance LLP Stuart Gledhill / Richard Hail / Soltan Tagiev [phone]
Alma PR  Justine James [phone] [phone] [e-mail]	Joint Broker Monecor (London) Ltd trading as ETX Capital Thomas Smith [phone]

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.

 

END

 

 

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