Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development, and production company, announces an update in respect to operations.
At the Champion Project, site preparation for Falcon-1 is now complete. Drilling is expected to commence shortly once contracts are finalised and the rig is available with drilling operations expected to take a few weeks. The drill results will be made available when received.
At the Greater Stanley Project, the Operator has now submitted all paperwork to the Texas Railroad Commission and this workover is expected to commence shortly.
Mosman is awaiting details on the progress of the Stanley-1 workover from the operator and expects to update the market in due course.
The party that failed to complete the contract to buy the Welch project has issued a claim for the return of the non-refundable deposit paid totalling USD90,000. This claim is considered by Mosman to be invalid.
John W Barr, Chairman, said: “Mosman’s focus is on the fully funded Falcon-1 well, and the two funded current workovers, with our clear objective remaining to build the production base.”
As announced on 30 July, Mosman is hosting an investor webinar via its joint broker, Monecor UK Limited at 17:00 today, 5 August.
Investors can register using the following link: https://register.gotowebinar.com/register/5907193699015387664
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.
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