“As recently announced the focus is now returning to production with two workovers and two new wells planned and now financed,” said chairman John Barr
() has told investors that net production for the six months ended June 30, 2020, amounted to 9,890 barrels of oil equivalent (boe).
It marked a reduction from 13,253 boe in the preceding six month period as the 2020 performance was impacted by the coronavirus (COVID-19) pandemic.
“The current pandemic and the oil price fluctuations have all resulted in Mosman and the operator of projects focusing their attention and operations on cashflow and costs rather than maximizing production,” John Barr, Mosman chairman said in the production summary.
“This together with Stanley-1 being offline, has, of course, led to production levels falling for the period. As recently announced the focus is now returning to production with two workovers and two new wells planned and now financed.
“Mosman is determined to continue to build its production base and is encouraged by the solid asset position it has established, combined with exploration potential,” Barr added.
Last week, Mosman updated on its operations, revealing that drilling of the Duff well at the Greater Stanley project will start in the fourth week of July.
Additionally, the group said, results of a workover in the Stanley-1 well are expected shortly and preparations are underway for the Falcon-1 well with site works due in late August ahead of drilling in September. The project operator is also planning the proposed Stanley-4 well.