Business
78% Increase in Cinnabar Project Proved Reserves
78% Increase in Cinnabar Project Proved Reserves.
About this update from Quantum Helium Limited
[{"type":"text","content":"\n \n \n \n \n 15 March 2023\n \n Mosman Oil and Gas Limited\n \n \n \n (\"Mosman\" or the \"Company\")\n \n \n \n \n \n \n \n \n \n 78% Increase in Cinnabar Project Proved Reserves\n \n \n \n \n \n Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development, and production company, announces a significant reserve update in respect of its producing Cinnabar Project in Tyler County, Texas.\n \n \n Reserve Report\n \n \n After the successful development drilling of and production from the Cinnabar-1 well, Mosman commissioned an updated independent Reserve Report for the Cinnabar Project (the \"Report\").\n \n \n The Report was prepared on the basis of a potential full-field development of the Cinnabar Project where Mosman has a 75% Working Interest. A wholly-owned subsidiary Mosman Operating LLC operates the Project.\n \n \n Total Proved Reserves have increased by approximately 78% from 887,000 to 1,581,000 gross boe.\n \n \n \n \n \n Gross Reserves (MBOE):\n \n \n \n \n \n \n \n Proved\n \n \n Developed\n \n \n Producing\n \n \n \n \n Proved\n \n \n Developed\n \n \n Behind Pipe\n \n \n \n \n Proved\n \n \n Undeveloped\n \n \n \n \n Total\n \n \n Proved\n \n \n \n \n Total\n \n \n Probable\n \n \n \n \n Total\n \n \n Proved\n \n \n Plus Probable\n \n \n \n \n \n \n \n \n \n 302\n \n \n \n \n \n \n \n 147\n \n \n \n \n \n \n \n 1,132\n \n \n \n \n \n \n \n 1,581\n \n \n \n \n \n \n \n 65\n \n \n \n \n \n \n \n 1,646\n \n \n \n \n \n \n \n \n \n \n \n A further breakdown of the Reserves is set out below:\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Gross\n \n \n \n \n \n \n Net attributable Mosman\n \n \n \n \n 75% Working Interest less royalties\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Proved\n \n \n \n \n \n \n Proved & Probable\n \n \n \n \n \n \n Proved, Probable & Possible\n \n \n \n \n \n \n Proved\n \n \n \n \n \n \n Proved & Probable\n \n \n \n \n \n \n Proved, Probable & Possible\n \n \n \n \n \n \n \n \n Oil & Liquids reserves per asset, in thousands of barrels.\n \n \n \n \n \n \n \n \n From production to planned for development\n \n \n \n \n \n \n \n \n \n 1,184\n \n \n \n \n 1,230\n \n \n \n \n 1,230\n \n \n \n \n 648\n \n ...