Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, advises that the Stanley-1 well recompletion is now underway and is expected to take 3 to 4 days.
Stanley-1 in Texas, was the first well to be drilled as part of the Strategic Alliance with the privately-owned Baja Oil & Gas, LLC (“Baja”). As previously reported, it has been flowing gas and some oil since initial completion in the Wilcox, however production has been constrained by limited gas infrastructure.
The recompletion of Stanley-1 is designed to produce oil from the Sparta zone. Initial flow results will be reported when available.
The Wilcox zone will be cemented off and may be re-entered in due course.
Mosman will pay circa USD6,000 for its share of re-completion costs from existing cash resources.
John W Barr, Chairman, said: “The decision was made to re-complete the well to focus on oil production until the gas infrastructure is improved. It is good to have work commence on site after the winter rain season and the Board of Mosman very much look forward to the detailed results and to updating shareholders as soon as possible.”
Competent 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.
Updates on the Company’s activities are regularly posted on its website www.mosmanoilandgas.com
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