New storage tanks are presently being installed to accommodate the rates of production.
() told investors that the Stanley-4 well is flowing around 155 barrels of oil per day.
Oil sales from the well are due to start this week, the company noted in a statement.
Stanley-4 was drilled down to a target depth of 5,000 feet, and, as announced recently, encountered several zones of interest during drilling and subsequent logging.
The oil is flowing from a completion in the Frio sandstone, at a depth of around 4,700 feet, and it is being stored in temporary tanks while new permanent tanks are installed to handle the flow rate.
Mosman noted that a further update for the Stanley-1 flow rate post-workover, will be released as soon as the information is released to the company by the operator.
The company owns a 16.5% stake in Stanley-4.