“We continue to work to increase our production base with two new fully-funded wells,” John Barr said.
() told investors that the drilling of the Stanley-4, in Texas, is anticipated to start as soon as possible.
The company said that the drill rig is now on-site.
It also noted, meanwhile, the possibility that the programme may by subject to a temporary suspension of operations due to Hurricane Laura, which this morning made landfall in Louisiana and is warned to also impact Texas.
Mosman said that it will also proceed with a workover programme at the Stanley-1 well, subject to weather.
In the meantime, it added that the Stanley 2 and Stanley 3 wells continue to produce and aren’t expected to be impacted by the weather.
“We continue to work to increase our production base with two new fully-funded wells, Stanley-4 and Falcon-1, and the Stanley-1 recompletion,” said John Barr, Mosman chairman.
“The board looks forward to results of these three wells in the near future.”
Stockbroker SP Angel, in a note, said: “A positive update from Mosman today, tempered slightly by the potential disruptions of Hurricane Laura.”
“The company continues to focus on its production led growth strategy and the Stanley field represents a strong high-margin producer in our view with untapped upside potential.”