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The last update we was just under 100bopd, with S3 if we could be 10bopd - 25bopd net to Mosmans, S4 will be the same.
The Champion prospect Falcon-1 will be the one that could make a quick change due to our percent holdings.
Was meant to say Santos is an experience producer.
Maybe another 2 weeks more until we get news on S3 once the well is cased and flow rates are determined.
When I read Baja’s website site for Champion it says with the objective to commence drilling of highest ranked prospects in 2019. What do you think this means for me it must be better then Stanley prospects, but only what I am thinking.
Dukas I feel is going to be something mega, the current rig used was no small rig and pressure would have been accounted for, Santos is an experience coming. But to encounter I higher level of pressure and taking everyone of guard and now requiring a larger rig, well that it self says it all.
Not the greatest write up on share talk, but it does remind us that even though our net revenue was 521,000usd in the last 6 month previously to that it was 321,000usd in 2017. But our gross profit last year was only 38,000usd as a-pose to 156,532usd the previous year. Last year we spent a lot of money and only produced around 34 bopd there and about. Since then our production has increased by 81% and with S3 this will further our production rate.
When the next 6 month accounts comes through I would expect a huge difference in net revenue and gross profit. If our gross profit is still poor then big ? Mark.
Personally I feel confident.
Amazing RNS for the year we are producing slightly under 100bopd. This will only increase and our revenue will also increase.
I had estimated on a previous chat what our net revenue could be but now we are producing more oil then expected it should be even better.
Should we be the share price we are, no and we all know this.
Once Stanley 3 comes on board and further more wells, what ever is holding the share price will have to give.
I am more then happy to stay with Mosman, amazing job done.
Nice to read the RNS and great to know Santos is continuing the drill. It is pretty shocking to see the share price drop this low with production increasing and having success with our drills.
Mosmans fundamentals are strong and for every increase in bopd only increases our revenue.
The last accounts Mosmans net sales revenue was $521,326.00 increase of 62% equates to 6476 boe which works out around (6476 / 180 days) give 36 bopd average.
If 36 bopd for 6 months give $521,326.00.
67 bopd for 6 month is 86% increase which means our net revenue could be $969,666.36
75 bopd for 6 month is 109% increase which means our net revenue could be $1,089,571.34
Not bad going I expect close to the figures with S1 and S2 producing at around 33 bopd.
When I look back our net production was around 7 bopd we are now achieving 67 bopd on the last up date.
When you work out stawn was producing net 5 bopd let’s take that away which gives us 62 bopd, Stanley 1 was producing 7 bopd due to bad weather, lets take that away which gives us 55 bopd. Let’s now add the latest news with Stanley 1 which give or take 22 bopd this now gives us 76 bopd, we now add Stanley 2 which is 11 bopd which now gives us a total of 87 bopd net to Mosman.
It is a steady rise and with more wells to come S3 could prove better or worse but we have several zones to choose from and champion well we have a higher stake.
It has been a long wait I am happy we are increasing our production it is slow but it could also turn easily with the coming wells.
Hi Simon yes the sp has been down and has been 0.30p for some time. But what has changed is Mosman is producing more oil, it is not massive amounts but has increased its net production and is still increasing it.
I feel it is just a matter of time now and the share price will start to reflex this, the path Mosmans is on is now the right path and with increase in production this should only go up with the share price.
We now know S2 is flowing only just need to know how much and to further our production S3 will be tested and if successful then this will also go into production not forgetting the Champion prospects.
What makes our wells interesting is they are stack pay wells, if I have the terminology right, there is several reservoirs and we have a choice which reservoirs to choose from, if we get a lot of gas then fine we cap it and drill into another reservoir with may have oil like Stanley 1 and 2 as a perfect example.
So if S3 produces gas we have several reservoirs to attempt to find oil.
At least we don't need to abandon the well and plug it .
We are in a good area of oil and have good zones with several reservoirs per well to work on, the change on the SP will come.
WTF2012 I was trying to point out the same reservoirs has already shown good Gas and Helium.
“We are encouraged by the well results recorded to date. Mt Kitty 1 and Central’s Magee 1 are the only wells to have tested the sub salt play, and both have flowed gas on test”, Cottee said.
Santos Ends Drilling Work at Mt Kitty-1 in Amadeus Basin After Rig Incident
by Central Petroleum Ltd.|Press Release|Monday, April 14, 2014
Central Petroleum Limited (Central or Company) announced Tuesday that the firm has been advised that its Mt Kitty 1 exploration well in the Amadeus Basin, Northern Territory, Australia flowed gas in testing.
The preliminary findings were notified by Santos, the Operator of Amadeus Basin permit EP 125, that the exploration well Mt Kitty 1 reached its programmed total depth of 7,529 feet (2,295 meters) in metasedimentary basement.
Central Managing Director, Richard Cottee, said the prime objective of the Mt Kitty 1 well was to confirm there is a hydrocarbon charge in the Southern Amadeus Basin which could be the catalyst to interconnect the Northern Territory with the eastern seaboard gas market.
“We are encouraged by the well results recorded to date. Mt Kitty 1 and Central’s Magee 1 are the only wells to have tested the sub salt play, and both have flowed gas on test”, Cottee said.
The well air-drilled into the objective Heavitree Formation at a depth of 7,020 feet (2,140 meters) below rotary table (RT). Upon penetration, elevated gas readings were observed, and a flow test at 7,034 feet (2,144 meters) recovered gas at an initial rate of 500,000 cubic feet per day through a 1.25 inch choke declining to 70,000 cubic feet per day after 10 minutes. A test at 7,073 feet (2,156 meters) RT produced at rate of 530,000 cubic feet per day decreasing to 420,000 cubic feet per day after 18 minutes accompanied by a gas flare and no water. Further flow tests at 7,168 feet (2,185 meters) and 7,388 feet (2,252 meters) recorded comparable flow rates. A total thickness of 357 feet (109
meters) of Heavitree Formation was intersected. Gas samples have been collected and will be analyzed. Preliminary on site analyses indicate that the gas is high in Helium, up to 5.8 percent (uncorrected for inert content). Helium is approximately 30 times more valuable than methane. The nearby Magee gas discovery recorded around 6 percent Helium, 45 percent inert gases being primarily Nitrogen, and 49 percent hydrocarbon.
Wireline logging operations had commenced to evaluate the quality of the Heavitree Formation reservoir section before an incident on the rig caused operations to be suspended. Santos notified Central that an incident occurred on the drill rig late in the day on Sunday April 13 at approximately 5.20pm. No persons were injured and there has been no environmental impact as a result of the incident.
Drilling operations have ceased and Santos is conducting an investigation. The well is secure and being monitored and Santos is working with the rig owner, government authorities and others to reinstate operations. Future operations will be advised by Santos in due course.
S3 was always in line after S2 was successfully producing oil at a good rate, this has not happened yet but is being worked on. The operator runs the decision with a number of stake holders and then decides the time table.
Funding is not the issue for S3 and S4, it is the timing and this operator seems to take there time.
The Champion Well is one were Baja are the operator and funding has arrived by Xstate JV and the recent placing so internally it is going to get greater focus.
A waiting game.
The recompletion of S2 will happen and hopefully we get a similar result as S1, there after S3 should still be on the cards to get into production and then S4.
We are not the operator on the Stanley wells and this is what takes longer then we want as it is up to the operator when they decide to complete the next stage.
With the Champion prospect Baja are the operator and they seem very eager to get things moving hence the reason we had to make sure the funds are in place.
The oil and gas has already been proven and it now is a matter of time for the wells to be drilled, think of the difference in a few months when S1, S2 and S3 and S4 are producing and then the champion wells, our 67 bopd is still a good bench mark and will be so little compared to what we could have.
Steady production is what we need and we are going in the right direction.
As much as we all are not happy with the placing, but to upgrade, get more wells drilled etc money is required.
S1 original estimated oil was 130bopd then we got gas, we are now are producing 134bopd and also are aware that S1 can produce double this if the operator and partners wanted to, but every one is looking at long term.
S2 to perforate another reservoir I think will happen sooner rather then later all partners want more wells being produced.
For a small company they have not been sitting on the fence we are again looking at S2 to be redone and then further wells this year.
It is not bad going and if all wells are successful then our share price should reflex this.
Concerning the article I think a lot of Aim companies out there the article has there point, but to put Mosmans name on there and to single them out I felt was a bit out of order, there are companies out there that have issued shares and still have done any drilling only exploring.
I still feel we will come good.
The sooner we can get an update of S1 and S2 then this will confirm we are above the 100bopd mark, this will then push the share price up. At present the confirmed figure we have is 67bopd to Mosmans.
The market needs to know the next increase to be confirmed, then we move on to hopefully S3 and S4, why wait around if the S1 and S2 are very positive.
Been reading the recent posts and wanted to touch up in a few points.
When looking at the production update there are 2 figures,
1) Quarter to 31 March 2019 Total Project Basis Gross BOE is 16517 boe giving a gross of 183bopd, this means 100% of all wells that has been produced.
2) Quarter to 31 March 2019 Net Production attributable to Mosman Net BOE is 6033 boe giving a net of 67 bopd, this means our share of the % we have agreed with our partners.
If Stanley 1 continues with 244bopd and Stanley 2 continues with 130 bopd Gross of 374bopd our percent 16.5% net to mosman will be 62 bopd net.
BaffinsMafia when I read London post a few times Londoner7 was only trying to help with guiding the difference between the gross figure and the net figure.
Getting around 500 bopd net to Mosmans will for sure make a huge difference and I do think this is achievable.
At present we know we are producing 67 bopd, this included the Stanley 1 well which was producing more gas then oil. Now Stanley 1 well is producing good volumes of oil and Stanley 2 well also producing once Mosmans confirm the daily bopd I feel confident this will take us pass 100 bopd including all producing wells. Mosmans will also by then know when Stanley 3 and 4 will be drilled and what reservoirs to focus oil to produce from, We are already producing more oil then some companies who are worth between 15million and 25 million pounds. Once production up date on s1 and s2 is announce this will push the share price further and I just think the rerating will start. If we continue to be successful I think we will pass 5 pence. My opinion only.
Not bad going and yet again an increase in production.
Still improvements to be made but going in right direction.
Jan-March is 90 day giving us 67 bopd.
Welch on it's own did use to give us 50 bopd, at present 25.5 bopd not much improvement there.
Arkoma has improved giving us 31 bopd
When you take the new figures of S1 and S2 together the lower production figures will give us 62 bopd which would be in 90 days 5,580 boe.
The total net to Mosmans will be if it was included will be 11,070 boe.
Equates to 123bopd.
This is what we need and if Welch can be improved then we could do 150 bopd.
Not including Stanley 3 and 4.
Stawn Production
Welch Production.
Arkoma Production.
Stanley 1 Production.
Stanley 2 Production., this will improve over time if not then Mosmans will do what they did with Stanley 1 and perforate another Reservoir.
Stanley 3 and Stanley 4 to come.
Champion (60% to Mosman) or the Challenger (46.83% to Mosman) prospect to drill this year.
Flow rates to be announced very soon.
Santos drilling in the Amadeus basin, if they announce any gas and Helium this will add to Mosmans value.
Over time as the production now will increase even further Mosmans are for sure on the right track and if there was any doubt if they will be successful this should now validate we will only get better.
Even without the Santos drill being successful with our oil production to increase and further drills to happen we are still incredibly under valued.
I see more and more will now start to notice the change and a rerate surely is to happen.
These Stanley wells are proving to be very good.
When we 1st did the Stanley 1 well the estimate BOPD was 150bopd we then found it was gas more then oil, now we have perforated another reservoir we are now producing 244 - 330 bopd, so much more oil.
Stanley 2 will improve and we have a number of reservoirs to perforate if the gas does not deplete and the deeper reservoirs are meant to hold more oil, but still to have 130 bopd equivalent is pretty good going and it will only get better. So MSMN S1 41 BOPD AND S2 22 BOPD. Total so 63 bopd. We will only get better.
More to come and as usual we are held back with the share price.
MSMN will also have more of an idea how much oil our whole prospect area could hold.
This news I would think will come at a later stage.
Smiling Sally I am invested on here but also with MSMN one to look at, producing small amounts of oil, have completed the Stanley 1 and 2 wells with a 16.5% holding which they should advise flow rates within the month.Also has Australia asset next to Santos who we waiting for the drill to start could hold 2TCF of gas and also Helium. If Santos strikes then this will be positive to Msmn.
Good luck with your investments.