Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.
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The RNS wording doesn’t align with the March production numbers. It seems to confuse the Stanley project with total project numbers.
“Mosman …. provides an update on its Stanley project in the US (34.85% to 38.5% WI) where the recent gross production has increased 84% to circa 221 boepd (30 day average flow rate in April). This is a material improvement from the recently notified March quarter gross average flow rate of 120 boepd.”
In the March production update, issued 10th April, gross Stanley production was 5,583 boe, which is 61 boepd gross - 22 boepd net to Mosman.
The March gross for all projects was 10,745 boe, which is 118 boepd – I guess this is the 120 boepd referenced in today’s RNS.
Also in the April 10th update, “Stanley-3 was successfully recompleted and produced strong gas flows, allowing gas sales and this well is now producing oil and gas.”
It is that ‘material improvement’ from Stanley-3 which is being reported today. For the sums, let’s apply that to the March production numbers. 221 boepd x 91 days = 20,111 boe. Apply the increase to Stanley, which is an assumption, 20,111 minus 10,745 = 9,366 boe, or 37 boepd net increase on Stanley’s March reported 22 boepd.
Stanley project, net 59 boepd run rate through April. In the March quarter 76% of production (boe) was oil (bo). The note on Stanley-3 suggests a higher contribution from gas in April.
In the past, the initial flow rates after a work over have declined rapidly. The production numbers for the June quarter , including May and June will be more representative of the Stanley-3 contribution.
Though it is the revenue and profit $$s, rather than boe, that matter most, and they wouldn’t be revealed until the final accounts released around Nov.
*Good to see a 7am release, giving people a chance to review the text ahead of opening. I hope someone can confirm my interpretation - in case I've make a complete fubar.
It’s out on ADVFN. Will wait for the June update but am hoping we are at break even or better.
Shame it's not out over here
Blue boom haha.
Static SP more like. Sell now and invest elsewhere this share is a lost cause.
On todays oil price, if they managed to deliver that for a year it’s £6m quid. Or am I wrong?
I hope you have averaged down Baffin
Yep it’s hard to get excited for me. I bought a five figure sum a few years back and it’s just crept up over £1! I might be waiting a little longer to break even. Classic AIM rubbish :)
Thebold I think it’s 1/10 of a penny more like
My first buy was 54p. And still here.🤞
Blimin heck Baffins, no words to describe that. i admire your longevity… good luck .
Infact been here since we hit 47p., yes 47p folks, shows how a share can shift upwards.... And I'm in here for rather alot let's just say...
160k received
Production up 84% at Stanley. That is massive.
More to be reimbursed 100k invoiced
Another 55k
So it's all systems go for our helium and hydrogen projects .
Get in there!
Good old Baffins, been pumping this since the dancing squirrel days of 15 + full pence , SP today 1/5th of a penny…
I feel another blue day coming here, imho, the fun are getting stronger and stronger, it's in black and white for all to read... This share is only going one way... Way north of this share price imho...
Brilliant news showing 7.89% on open already
Agree with general sentiment. Good update and nice start to the week. Noted they received their $160K from GRV too.
Another good update from Mosman. This adds more value to the sale of Stanley, the Stanley sale is just over the horizon, some will struggle to get back in at these prices.
... never done it before. But this is our year... maybe today will be the catalyst for a meteoric rise to 100m MC similar to HE1!! Good luck all holders! Here we go ooo!
It’s all coming together nicely Mosman Oil and Gas Limited (AIM: MSMN) the hydrocarbon, helium and hydrogen exploration, development, and production company, provides an update on its Stanley project in the US (34.85% to 38.5% WI) where the recent gross production has increased 84% to circa 221 boepd (30 day average flow rate in April). This is a material improvement from the recently notified March quarter gross average flow rate of 120 boepd.
Https://www.londonstockexchange.com/news-article/MSMN/production-increases-at-stanley-ep145-update/16456106
Mosman Oil and Gas Limited (AIM: MSMN) the hydrocarbon, helium and hydrogen exploration, development, and production company, provides an update on its Stanley project in the US (34.85% to 38.5% WI) where the recent gross production has increased 84% to circa 221 boepd (30 day average flow rate in April). This is a material improvement from the recently notified March quarter gross average flow rate of 120 boepd.
This significant increase has been achieved following a recompletion of Stanley-3 which is now flowing oil and gas. The Company will provide details on production at all assets as part of its June 2024 quarter update.
In Australia on EP 145, the A$160,000 payment, which was due upon completion of the previously announced Farmin Agreement with Greenvale Energy Pty Ltd (ASX:GRV), has been received as expected. Additional prior exploration expenditure amounts of circa A$100,000 will be invoiced and reimbursed under the terms of the Farmin Agreement. In addition, an environmental bond of circa $55,000 will be cashed in.
Andy Carroll, CEO of Mosman commented: "I am pleased that the continued work on the Stanley project is now achieving stronger production numbers, which improves revenues and is a pre-requisite to sale of the asset in the future. This combined with the progress made in Australia, with the completion of the EP 145 Farmin, moves Moman into a more robust position with a strengthened balance sheet.
Probably drop 😅
When ipo happens what should be realistic share price? NOT stay same would it?
Thank you Botham