Mosman Oil & Gas - Operations Update
("Mosman" or the "Company")
Delivering on Strategy
Mosman continues to pursue the delivery of its refocussed Corporate Strategy, as detailed in the RNS of
1. Resolved to sell the
2. In the
3. Received payment (and settled all outstanding matters) from
4. At Arkoma, the Operator at Arkoma advises that production continues, and workovers are planned to increase production rates.
5. Continued to produce from the Stanley project in
6. Paid for site preparation and expects Stanley-4 to be drilled in this quarter.
7. Production and revenue commenced from Greater Stanley, and Mosman will shortly participate in workovers aimed at increasing production.
8. Funded the drilling of Falcon-1and is actively progressing the Falcon project.
Mosman is managing its operations within the current Pandemic Guidelines. Notwithstanding this, activity is continuing on a number of operations including:
1. Operations at the Welch project.
2. Production and technical work at Stanley, Greater Stanley and Arkoma.
3. The current workover of Stanley-1, where results are expected shortly.
4. The final preparations for the approved workover of the Duff well at the Greater Stanley project which is due to commence in the fourth week of
5. Preparations for Falcon-1, which is on schedule for site works by late
6. Planning by the operator of the proposed Stanley-4 well.
Mosman successfully applied for and obtained approval of a one year extension of EP 145-in the NT of
In addition, noting costs continue to be closely monitored, the directors have agreed to accept shares in lieu of cash payment for Director and consultancy fees, subject to approval by shareholders at a General Meeting. The Notice of Meeting currently is lodged with the Australian Regulators for sign off and the meeting date for
The Company continues to consider the sale of non-core assets, including the investment in Norseman Capital Limited.
Final details for the production update for the six months to
Mosman is presenting at the
Qualified Person's Statement
The information contained in this announcement has been reviewed and approved by
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.
John W Barr, Executive Chairman
NOMAD and Joint Broker
+44 (0) 20 3470 0470
+44 (0) 20 3405 0205
+44 (0) 7525 324431
Updates on the Company's activities are regularly posted on its website: www.mosmanoilandgas.com
This information is provided by RNS, the news service of the
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