Six Month Production Summary

RNS Number : 1392I
Mosman Oil and Gas Limited
10 August 2021
 

10 August 2021

Mosman Oil and Gas Limited

("Mosman" or the "Company")

Six Month Production Summary

 

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, announces its production summary for the six months ended on 30 June 2021.

 

Net Production attributable to Mosman for the six months was 12,143 boe, which was an increase of c 2,123 boe or c21% (on the six months ended 31 December 2020). With this progress, combined with higher sales prices, the acquisition of Nadsoilco (effective 1 July 2021) and an additional interest in Falcon, the future production is now more robust and Mosman is looking forward to a significantly improved production profile going forward.

 

Production Summary

 

 

6 Months to

30 June 2021

6 Months to

31 December 2020 (updated)

 

 

 

 

Total Project

Net Attributable1

Total Project

Net Attributable

 

 

 

 

 

 

Gross boe2

Net boe

Gross boe

Net boe

Falcon3

16,502

 

8,251

2,395

1,197

Stanley

20,327

 

3,312

 

24,982

3,984

Greater Stanley

652

 

155

936

187

Arkoma

2,706

 

425

896

171

Welch

-

-

5,845

4,481

 

Total boe

 

40,187

 

  12,143

 

35,054

 

 

  10,020 

 

 

1.  Net attributable production means net to Mosman's working interest before royalties

2.  Gas production is converted into boe at a rate of 1boe = 5.8 MMBtu

3.  Falcon production started on 11 December 2020

 

 

John W Barr, Chairman, said: "Mosman views this as a solid result, entering the next period more confidently with an increased working interest across our projects.

 

"Going forward we have taken the next step of delivering on our strategy of production growth, achieved with the acquisition of Nadsoilco and an additional 25% working interest in the Falcon-1 well. Both of these events occurred in July 2021 and are not reflected in the numbers.

 

"The next step is to increase production with drilling imminent with wells planned at Winters-2 and Stanley-5."

 

 

 

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside is now considered to be in the public domain.

 

 

 

Enquiries:

 

Mosman Oil & Gas Limited John W Barr, Executive Chairman Andy Carroll, Technical Director

jwbarr@mosmanoilandgas.com acarroll@mosmanoilandgas.com

NOMAD and 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

mosman@almapr.co.uk

Joint Broker

Monecor (London) Ltd trading as ETX Capital Thomas Smith

020 7392 1432

 

Updates on the Company's activities are regularly posted on its website:

www.mosmanoilandgas.com

 

 

Definitions

 

boe or BOE

barrels of oil equivalent

This is both oil and gas and includes the gas converted to oil barrels using a standard industry formula

Gross Sales

Reference to sales is boe that has been sold from the project throughout the period

Net Sales Attributable to Mosman

Mosman's portion of Gross sales less royalties owed to leaseholders

Total Gross Production

boe produced on the project throughout the period. Includes oil still held as inventory

Net Production Attributable to Mosman

Mosman's portion of Total Gross Production before royalties owed to leaseholders

Total Project Basis

Refers to performance of Sales or Production on a

100% basis of the four projects that Mosman has invested in.

 

 

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