Business
Greater Stanley and Falcon Well Update
Greater Stanley and Falcon Well Update.
About this update from Quantum Helium Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 4928U\n Mosman Oil and Gas Limited\n 06 April 2021\n \n \n \n \n 6 April 2021\n \n \n \n \n \n Mosman Oil and Gas Limited\n \n \n (\"Mosman\" or the \"Company\")\n \n \n \n \n \n \n \n \n Increase interest in Greater Stanley and Falcon Well Update \n \n \n \n \n \n Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, announces an update on its Greater Stanley Project and Falcon well in East Texas.\n \n \n \n \n \n Acquisition \n \n \n \n \n \n Mosman has acquired an additional 20% interest in the Duff lease, an existing oil producing lease covering 36 acres which forms part of the Greater Stanley Project, adjacent to the Stanley Project. This increases Mosman's working interest in Duff to 40%, following acquisition of the initial 20% in February 2020. \n \n \n \n \n \n The Operator has proposed a workover to re-complete the Duff-2 well in a zone which has previously been productive at Greater Stanley and Mosman has agreed to a workover well in order to raise production rates.\n \n \n \n \n \n Mosman's share of the workover (USD20,000) and the acquisition cost (USD15,000) are being funded out of the Company's existing cash resources.\n \n \n \n \n \n Greater Stanley Project\n \n \n \n \n \n This Project currently comprises two leases, Duff and Kimes. There is not currently any independent report to quantify resources or reserves at the Greater Stanley Project. The Duff lease has two currently producing wells, and produces about 160-180 bbls /month. Contour Exploration and Production is the operator.\n \n \n \n \n \n Falcon well update \n \n \n \n \n \n Despite a 6-day shut in for freezing weather, Falcon produced 12,405 Mcf (gross) of gas with a thermal value of 13,942 MMBtu (gross) in February 2021. Additionally, 180 Barrels of oil (gross) were produced and sold from site. This compares to the January production of 21,805 Mcf (gross) of gas with a thermal value 23,475 MMBtu (gross) and production and sale of 365 Barrels of oil (gross).\n \n \n \n \n \n As previously notified, hydrocarbon production has been adversely affected since the beginning of March due to increasing water production which is adversely affecting the economic return on the well. \n \n \n \n \n \n The Op...