Mosman Oil and Gas Limited (DI) (MSMN)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

0.016p
   
  • Change Today:
      0.002p
  • 52 Week High: 0.085
  • 52 Week Low: 0.011
  • Currency: UK Pounds
  • Shares Issued: 12,337m
  • Volume: 578,765,223
  • Market Cap: £1.97m

Mosman reports on initial production from Cinnabar-1

By Josh White

Date: Friday 06 Jan 2023

LONDON (ShareCast) - (Sharecast News) - Energy explorer, developer and producer Mosman Oil and Gas updated the market on initial production from the Cinnabar-1 well in Tyler County, Texas on Friday.
The AIM-traded company said that on 28 December, the well was completed and perforated in the Upper Wilcox sands between 9,042 and 9,052 feet, and between 9,098 and 9,108 feet.

On 3 and 4 January, the well was flow tested by Streamline Well Testing.

The average flow over 24 hours on a 10/64-inch choke was around 120 barrels of oil and 180 million standard cubic feet of gas per day, for a total of about 150 barrels of oil equivalent per day, while the final wellhead pressure was 1,025 psi.

Mosman said the longer-term stable flow rates for both oil and gas would be determined after Cinnabar-1 was connected to the existing production facilities that have oil tanks, gas separation and gas export capability.

The pipeline from the well to the production facility was currently being installed.

As of 6 January, the well had produced more than 1,000 barrels of oil, which was being stored in temporary tanks, with arrangements being made for it to be transported and sold.

Mosman said it had already engaged independent consulting engineers to upgrade the reserve report with information from the well, while planning had also started for workovers of the existing wells and drilling of additional development wells.

Mosman owns a 75% working interest in the well and the 350-acre lease, with its subsidiary Mosman Operating acting as operator.

"These initial flow rates are very positive," said chairman John Barr.

"We continue to move forward to full scale production and sales of both oil and gas at Cinnabar.

"The board is very pleased that the investment in the Cinnabar lease is delivering such encouraging results."

At 1618 GMT, shares in Mosman Oil and Gas were down 3.7% at 0.07p.

Reporting by Josh White for Sharecast.com.

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MSMN Market Data

Currency UK Pounds
Share Price 0.016p
Change Today 0.002p
% Change 10.34 %
52 Week High 0.085
52 Week Low 0.011
Volume 578,765,223
Shares Issued 12,337m
Market Cap £1.97m

MSMN Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
53.04% above the market average53.04% above the market average53.04% above the market average53.04% above the market average53.04% above the market average
15.79% above the sector average15.79% above the sector average15.79% above the sector average15.79% above the sector average15.79% above the sector average
Price Trend
86.51% below the market average86.51% below the market average86.51% below the market average86.51% below the market average86.51% below the market average
60.98% below the sector average60.98% below the sector average60.98% below the sector average60.98% below the sector average60.98% below the sector average
Income Not Available
Growth
39.76% above the market average39.76% above the market average39.76% above the market average39.76% above the market average39.76% above the market average
5.66% below the sector average5.66% below the sector average5.66% below the sector average5.66% below the sector average5.66% below the sector average

MSMN Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:25 60,000,000 @ 0.016p
16:16 900,000 @ 0.016p
15:56 14,169,631 @ 0.017p
15:50 24,060,240 @ 0.017p
15:49 20,806,060 @ 0.017p

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