23 February 2021
Mosman Oil and Gas Limited
("Mosman" or the "Company")
Updated Six Monthly Production
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development, and production company, announces an updated production summary for the six months ended 31 December 2020, following receipt of additional production data on its Falcon and Arkoma projects in the USA.
The original report, announced on 14 January 2021, was based on data available at that time from the operators of each project. Net Production attributable to Mosman for the six months now stands at 9,871 boe (compared to 8,650 boe as previously announced).
Production Details
| | 6 Months to 31 December 2020
UPDATED | 6 Months to 31 December 2020
ORIGINAL | 6 Months to 31 December 2020
UPDATED | 6 Months to 31 December 2020
ORIGINAL |
| | Total Project | Total Project | Net Attributable | Net Attributable |
| | Gross boe | Gross boe | Net boe | Net boe |
| Falcon* | 2,191 | - | 1,096 | - |
| Stanley | 24,982 | 24,982 | 3,984 | 3,984 |
| Greater Stanley | 936 | 926 | 187 | 185 |
| Arkoma | 615 | - | 123 | - |
| Welch** | 5,845 | 5,845 | 4,481 | 4,481 |
|
Total boe |
34,569 |
31,753 |
9,871 |
8,650 |
Net production means net to Mosman's working interest before royalties
* Falcon production started on 11 December.
** Welch has now been sold
John W Barr, Chairman of Mosman commented: "The updated production report shows the significant benefit of Falcon-1 production, noting that Mosman only benefitted from production from 11 December 2020. With drilling planned at Stanley, Champion and/or Challenger projects we anticipate further increases to our production in the coming months and have an objective to be involved in at least four new wells in 2021 subject to funding and other matters."
Qualified 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
| NOMAD and Joint Broker SP Angel Corporate Finance LLP Stuart Gledhill / Richard Hail / Adam Cowl +44 (0) 20 3470 0470
|
| Alma PR Justine James +44 (0) 20 3405 0205 +44 (0) 7525 324431
| Joint Broker Monecor (London) Ltd trading as ETX Capital Thomas Smith +44 (0) 20 7392 1432 |
Updates on the Company's activities are regularly posted on its website: www.mosmanoilandgas.com
Technical Glossary
| BBLs or bbls | Barrels |
| BOPD or bopd | barrels of oil per day |
| BOEPD or boepd | barrels of oil equivalent per day calculated on the approximate 1:6 basis of the calorific value of the hydrocarbons, (not based on the price) |
| MMCFPD or mmcfd MMBTU | Million cubic feet per day
Million British Thermal Units |
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