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:
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Mosman Oil & Gas Limited
John W Barr, Executive Chairman
Andy Carroll, Technical Director
[email protected]
[email protected]
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NOMAD and Broker
SP Angel Corporate Finance LLP
Stuart Gledhill / Richard Hail / Soltan Tagiev
+44 (0) 20 3470 0470
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Gable Communications Limited
Justine James / John Bick
+44 (0) 20 7193 7463
[email protected]
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Joint Broker
SVS Securities Plc
Elliot Hance/Tom Curran
+44 (0) 203 700 0078
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Updates on the Company's activities are regularly posted on its website www.mosmanoilandgas.com
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