Business
USA Operations Update
USA Operations Update.
About this update from Quantum Helium Limited
[{"type":"text","content":"\n\n \n \n6 June 2023\n Mosman Oil and Gas Limited\n(\"Mosman\" or the \"Company\")\n \nUSA Operations Update\n \nMosman Oil and Gas Limited (AIM: MSMN), the oil exploration, development, and production company, announces an update in respect to its USA Operations.\n \nUSA Production (Various interests)\n \nProduction at all sites continues with current internal estimates indicating that production in April 2023 was 6,951 BOE gross (232 boepd), 2,936 BOE (101 boepd) net to Mosman.\n \nThe April net production daily average of 101 boepd is lower than the previous quarter's (March 2023 quarter) daily average of circa 133 boepd, primarily due to workovers at Cinnabar-1 (details below).\n \nThese interim production numbers are subject to change upon receipt of final sales invoices from the purchasers of products and other adjustments. At this time these are internal estimates only and accordingly final numbers may vary. Mosman will release the normal full quarterly production numbers after the end of the June quarter.\n \nMajor Project Updates\n \nCinnabar (75% Working Interest)\n \nHaving established production and the Reserves at Cinnabar, the current phase of operations is to establish production rates from several of the prospective reservoir zones to facilitate development plans to produce the 1.646 million boe of Reserves.\n \nThe workover on 25 April 2023 isolated the First and Second Wilcox zones with a cement retainer (a form of bridge plug). Since then, the First Wilcox has flowed intermittently. The First Wilcox zone was re-perforated to see if that increased production, and the well has been swabbed. Whilst well pressure builds when the well is shut in, production remains intermittent. Further workovers are planned to optimize production, and these may include a frac that has been successful in nearby independently operated wells (not yet tried on this lease).\n \nAt Cinnabar, a key reason for first focusing on the First Wilcox zone, and th...