Weather causes delays in Texas

RNS Number : 4566E

Mosman Oil and Gas Limited

18 October 2018

 

18 October 2018

Mosman Oil and Gas Limited

("Mosman" or the "Company")

Weather causes delays in Texas

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, advises in respect to recent weather conditions affecting the Welch Permian Basin Project and the Strawn Project  in Texas, USA.

A Mosman subsidiary Company operates the Welch Permian Basin Project and the Strawn Project and advises that at both projects there has been recent significant rainfall. Several wells have been temporarily shut in because of the weather which is also delaying repairs that occur on a regular basis. The collection of oil from sites has also been delayed due to the rain and the currently impassable local roads. Once the rain stops, it is expected that operations will return to normal.

The effect will be a slightly lower average production rate, however when wells are shut in costs are minimal.

John W Barr, Chairman, said: 

"The rainfall has caused some distruption, but we are not aware of any damage to production facilities, and therefore once the rain abaits normal production should be quickly restored."

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]
Gable Communications Limited Justine James / John Bick [phone] [e-mail]	Joint Broker SVS Securities Plc Elliot Hance/Tom Curran [phone]

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

 

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