MSMN:-1 Aug 2018 08:57
From RNS dated 18th July:
"The Stanley Development Project is supported by Baja's interpretation of 3D seismic data, integrated with substantial sub-surface well control, and legacy production information.
Mosman has acquired a 16.5% Working Interest by agreeing to pay 22% of the cost of the well, and some prior costs. Baja and other parties have committed to paying the remainder of the costs of the well.
the cost to Mosman of drilling the Stanley well is based on a fix cost drill contract and will be approximately $95,000 and if commercially successful, an additional $40,000 will be required for the completion and installation of production facilities.
Drilling is scheduled to commence later in July with results available in August. If successful, the Operator forecasts initial flow rates of approximately 150 bopd (gross)."