Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Can anyone get this video to play? Suggests it has been posted at 18:30 today...
https://www.proactiveinvestors.com.au/mediaFiles/stocktubeDetails/12158/mosman-oil-and-gas-director-shares-2019-outlook-for-us-and-australian-assets-12158.html
Stanley 2 hasn't spudded yet. Apparently there was some optimism it might happen this week, but Mother Nature has intervened again. We should be getting some six month production numbers shortly though; hopefully they will be encouraging (particularly if there is good news from Stanley 1).
The RNS which spoke of the delay getting the rig on site for Stanley 2 still made reference to results in December so I would imagine drilling would be sooner rather than later - and as you say, Christmas is a time for miracles!
Directors subscription
Friday's RNS said we're just waiting for the drill to finish its current contracted job and then it will be coming to Stanley 2; mentioned December for results, I think previously they have said mid-December, so timeframes have probably slipped slightly. Anyway, where's the director's placing which they've promised?
18,181,818 - it must be the boys from the 118 118 adverts!
So it's probably not a bad thing that we won't be in a position to announce Stanley 2 results (assuming we don't miss the sweet spot!) until next month... might give oil prices a chance to recover a bit.
Short media update on Stanley https://www.brrmedia.co.uk/broadcasts/5beaa4707f34977950a5bb09/mosman-oil-gas-stanley-1-well-test-results
We have $480k CAD in Gem I think. Would be useful to get that sort of money back in the fullness of time
As is a £2.38m market cap to get a piece of the action!
http://www.proactiveinvestors.co.uk/companies/news/205989/mosman-oil-and-gas-decides-against-investing-more-capital-in-oklahoma-project... "Shares in Mosman were 5% up at 53p in mid-afternoon trade." Now that would be nice!!!
JB reiterated that he is very excited with the results of Stanley, and that there are five or six potential wells there. If Stanley 2 is successful, they will move straight forward with Stanley 3 and so on... Regarding the new aquisitions, intention is to drill targets at both in the first quarter of 2019 - hope is to use cash flow generated by Stanley to drill these.
Another new media update which I don't think has been posted here - this time it's JB talking about Baja: https://www.brrmedia.co.uk/broadcasts/5baa1011269b0c1ded188add/mosman-oil-gas-two-us-acquisitions-and-baja-strategic-alliance-update
1digger, was this the one you were anticipating?
AC suggest next announcement would be about Stanley 2, then other drills in Baja portfolio
Also mentioned Stanley 1 follow up drill in "the near future"
Gas at Stanley 1 to reduce and oil to increase "in the near future"
Revenue at Stanley will fund future development in the area
New media with AC from Proactive Investors: https://www.youtube.com/watch?v=AEIs4ZJse8g&feature=youtu.be
Mosmon Oil and Gas (LON:MNMN) technical director Andy Carroll updates Proactive Investors on the energy company’s strategic alliance with Baja Oil and Gas LLC and developments across the two projects that comprise the partnership, Champion and Challenger.
“One of the big positives on Champion is that Baja had 100% of this project so Mosmon was able to increase the percentage we’ve acquired from Baja, so we’ve taken 60% on that project,” Carroll says.
He continues, “we really like it … there is existing infrastructure in the area, we can drill those wells in the near future and existing infrastructure means they can come on production very quickly.
“With Challenger, it’s the redevelopment of an existing oil field … there’s enough information to get a reserve estimate on that area and 3D seismic will show the sweet spots where we think development wells best be located.”
Nice to see a mention of Mosman in the national press: http://www.thisismoney.co.uk/money/investing/article-5974157/Five-pitch-operator-hit-hard-extreme-weather-conditions.html
This was yesterday's RNS - also states "drilling is scheduled to commence later in July with results available in August"...
And don't forget the Stanley drill is imminent too
1digger was right - another curveball! :)
And let's not forget JB's comment in the Welch RNS of 18 April: "Importantly, the Proved Reserves identified at Welch should provide a basis for being able to obtain bank debt to assist in funding further production growth"