Mosman Oil Gas Share Price (MSMN)

Yes we could do with HE1 style rise. We need lots of good news.

Https://www.proactiveinvestors.co.uk/companies/news/1046980/mosman-oil-and-gas-ramps-up-production-at-stanley-as-it-prepares-for-asset-sale-1046980.html

Whichever way we look at it, it’s a helluva lot better overall than we were 3 months ago. The SP should surely start to rise with everything else that’s going on. Maybe an IPO for EP155 in the next few days.

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.