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Mosman Oil and Gas lifts oil production volumes at Stanley Project, Texas

Last updated: 06:43 04 Mar 2024 EST, First published: 08:30 21 Nov 2023 EST

Snapshot

  • Mosman Oil and Gas pleased with progress with helium and hydrogen project
  • Mosman Oil and Gas "happy but not satisfied" with Q1 2023
oil

About the company

Mosman Oil and Gas Ltd is an oil exploration, development and production company with projects in the US and Australia.

The company'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.

Mosman has several projects in the US, in addition to exploration projects in the Amadeus Basin in Central Australia.

How it is doing

28 Mar 2024

Mosman Oil and Gas Ltd (AIM:MSMN) has highlighted to investors further progress in its efforts to explore for helium and hydrogen in Australia’s Northern Territory.

The project, permit EP 145, is being progressed through an approvals process to open up the next phase of exploration.

It comes as the company is working to seal its proposed farm-out partnership with Greenvale Energy which can earn up to 75% of the project by funding seismic data capture and by paying for the partners to drill a well (capped at A$5.5mln).

At present, the partners are awaiting ministerial approval to greenlight the deal.

04 Mar 2024

Mosman Oil and Gas Ltd (AIM:MSMN) is continuing its preparations for exploration in Australia, today telling investors it has committed to the acquisition of long lead items essential for seismic exploration.

It follows the recently announced partnership agreement with Greenvale, which is awaiting ministerial approval.

19 Feb 2024

Mosman Oil’s planned Stanley workover programme in the US represents another positive result for the group, according to house broker SP Angel.

Analysts said it should increase the value if Mosman monetises the asset in the healthy Texas M&A market, and can add value overall if the proceeds are used to upgrade the Cinnabar wells to fulfil their full potential.

What management says

28 Apr 2023

Mosman Oil and Gas Ltd (AIM:MSMN) chairman John W Barr speaks to Thomas Warner from Proactive after releasing a quarterly production update that showed a marked increase in oil output.

Barr explains the reason for the increase in production and says that he is "happy but not satisfied", and believes there is still more increase to come.

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