Mosman Oil & Gas Ltd - Sydney-based oil and gas company with projects in Australia and the US - Reports its production in its third quarter ending March 31 increased 65% against the previous year. The company adds it has also seen ‘significant’ further development potential in its existing production leases.

Net production for the three months totalled 11,756 barrels of oil equivalent, representing an increase of 4,633 boe on the previous year’s figure of 7,123 boe. This comprised of 2,951 barrels of oil and 51,066 million British thermal units of gas. The average sale price for oil was $89.53 per barrel and $4.13 per MMBtu gas.

Mosman says that net production in the first nine months of this financial year already exceeds the 22,284 boe produced in financial 2021. Net production in the first nine months currently stands at 29,100 boe.

Current stock price: 0.13 pence, up 9.8% in London

12-month change: down 10%

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