Funding situation28 Mar 2019 14:09
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, is pleased to announce it plans to continue the rapid development on its US projects by proposing up to five new wells, all located onshore in Texas, USA in 2018/19.
The five wells proposed are: Stanley-2, Stanley-3, Stanley-4, Champion-1 and Challenger-1.
The Stanley-2 development well is already funded, and the other Stanley development wells are now funded, and will be drilled under the lease operating agreement, where one drilling operation can be proposed and completed at a time, so this is likely to be one well every two months. The final drilling timetable is dependent on the operator decisions, and logistical matters which are not entirely in Mosman's control at this time.