Too come6 Sep 2023 13:04
As advised in the Company's RNS dated 11 August 2023, Mosman has completed a detailed development plan for the Cinnabar lease which has three production wells. Production from the wells was included in the gross quarterly production numbers of 1,775 boe. The plan is being implemented with gas infrastructure upgraded to enable gas lift either from produced gas or purchased gas.
Recently, a frac was completed at the G-2 production well. The frac has successfully connected the First Wilcox reservoir zone to the production well and enabled the zone to flow. The well has been swabbed to recover frac fluids and initial flow established. The well is currently being produced intermittently by allowing pressure to build up and flowing for a while before shutting in to allow pressure to build. When a steady flow rate is established, a further announcement will be made.
The Cinnabar Field is in Tyler County Texas, approximately 30 miles north of Beaumont, Texas. It was discovered in 1988 by Ballard Exploration's G-1 well which found multiple pay zones in the Wilcox Formation from depths of approximately 9,000 feet to 10,400 feet. Mosman owns a c.75% working interest in the well and the 350-acre lease. Mosman Operating LLC, a 100% owned subsidiary of Mosman, is the Operator of the lease.