Stock Market News
Mosman study indicates 'attractive economics' at Texas well project
Mosman Oil & Gas informed investors that a pre-feasibility study had identified "attractive economics" at its Welch horizontal well in Texas.
The study has been completed at the well where anticipated flow rates are 60-120 bopd per well, based on nearby well results, allowing the company to move forward with a feasibility study and steps to obtain the required approvals to develop the well.
AIM-listed Mosman has also commissioned an independent reserves report, set to be delivered by the end of April 2018.
John W Barr, chairman of Mosman, said: "Mosman is very pleased with the results of the PFS at Welch and has instructed the commencement of the feasibility study. The Welch project provides both a strong revenue stream and the foundation for growth."
The first horizontal well at the site could be drilled and brought on production in the third or fourth quarter of 2018, subject to the completion of conditions such as financing and permitting, according to Mosman.
"The horizontal well development is being systematically progressed and we expect to have several financing alternatives that will be finalised before the final development decision is made by the Board," said Barr.
As of 0831 GMT, Mosman Oil and Gas' shares were unchanged at 1.08p.
The study has been completed at the well where anticipated flow rates are 60-120 bopd per well, based on nearby well results, allowing the company to move forward with a feasibility study and steps to obtain the required approvals to develop the well.
AIM-listed Mosman has also commissioned an independent reserves report, set to be delivered by the end of April 2018.
John W Barr, chairman of Mosman, said: "Mosman is very pleased with the results of the PFS at Welch and has instructed the commencement of the feasibility study. The Welch project provides both a strong revenue stream and the foundation for growth."
The first horizontal well at the site could be drilled and brought on production in the third or fourth quarter of 2018, subject to the completion of conditions such as financing and permitting, according to Mosman.
"The horizontal well development is being systematically progressed and we expect to have several financing alternatives that will be finalised before the final development decision is made by the Board," said Barr.
As of 0831 GMT, Mosman Oil and Gas' shares were unchanged at 1.08p.
Related share prices |
---|
Mosman Oil and Gas Limited (DI) (MSMN) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price