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Mosman Oil & Gas Ltd - Oil exploration, development, and production company with projects in the US and Australia - Says gross production at its Stanley project in the US has increased to around 93 barrels of oil per day, a "material improvement" from quarter gross average flow rate of 43 bopd the firm reported in December. Says this has been achieved following a period of production equipment reconfiguring and optimisation, including the installation of surface and downhole equipment to boost production with jet pumps.
Chief Executive Officer Andy Carroll says: "I am pleased that the continued work on the Stanley project is now achieving stronger production numbers.This flow rate is positive for commercialisation of the asset through ongoing cashflow or sale of the asset."
Current stock price: 0.016 pence, up 2.5%
12-month change: down 73%
By Sabrina Penty, Alliance News reporter
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