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Moving back up
Fingers crossed. Wish they would update that map though - it's still got Strawn on it!
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development, and production company, announces an update on drilling at the Falcon-1 well on the Champion Project in East Texas.
Drilling is progressing well to reach the two prospective zones identified on seismic which are forecast to be between?7,400 and 7,500 feet True Vertical Depth ("TVD"). The current operation, at 5 pm (AEST), is drilling at a depth of 7,160 feet measured depth (circa 7,000 feet TVD).
After reaching Target Depth of circa 7500 TVD, the well will be conditioned and prepared for the wireline logs to be run. Mosman will report on the results once logs are evaluated.
Falcon and Stanley Drilling
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development, and production company, announces an update on drilling at Falcon and Stanley in Texas.
Falcon-1 (50% working interest)
Falcon-1 on the Champion Project is now being directionally drilled to penetrate two prospective target zones forecast to be between?7,400 and 7,500 feet True Vertical Depth.
9 5/8 inch casing has been run and cemented at 1,600 feet. The well will now be directionally drilled to penetrate the two target zones.
Stanley (Circa 16.5% working interest)
The recently drilled Stanley-4 well is now on production with the reported flow rate of 155 bopd.
At Stanley-1 the well was perforated and flowed strongly, however the crude oil is a waxy crude oil and there was some sand carried in the oil. The Operator has temporarily shut in the well while a sample of the oil is being analysed at a laboratory and the Operator decides what production approach is appropriate for these circumstances.
new pic of the rig on Twitter https://twitter.com/Mosmanoilandgas/status/1311948026655711232/photo/1
Good to see they are still tweeting about Amadeus: https://twitter.com/Mosmanoilandgas/status/1311599518039891972/photo/1
Amadeus Basin EP145
The permit contains a significant anticline, of over 30km in length. The significance of the geology is its proximity to the nearby Mereenie oil and gas field, which produces from the Ordovician Pacoota Sandstone unit.
On Twitter
#MSMN Director Buy - John Young, Non Executive Director, bought 10,416,667 shares in the company on the 21st September 2020. #mosmanoilandgas #mosman #stickyhands
https://www.lse.co.uk/rns/MSMN/warrant-exercise-xc56yscebe34a2x.html
Another AUD165k in the coffers
https://www.lse.co.uk/rns/MSMN/holdings-in-company-wr9ibow97td114f.html
https://twitter.com/Mosmanoilandgas/status/1305431398178869249/photo/1
Final site preparations at Falcon 1 well is anticipated to spud this week.
Drilling the well scheduled to be completed this month.
In addition to Falcon, several other prospects which have been mapped using 3D seismic, including Galaxie, Durango, Corona East, Corona West.
Stanley-4 Drilling Update
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, advises that the Stanley--4 well in East Texas has completed drilling after reaching the target depth of circa 5,000 feet.
Drilling was completed successfully. Several zones of interest were identified while drilling, in line with expectations. The well has now been logged to evaluate the target zones. Logs indicate several potential pay zones in the Yegua formation between 4600-4900 feet.
The well will now be completed and tested. Flow rates will be advised when data is available.
This makes a total of four wells drilled by the joint venture at the Stanley project, with positive results.
Mosman holds a 16.5% working interest in Stanley-4.
John W Barr, Chairman, said: "We are pleased to deliver this next step, further demonstrating the team's ability to advance its business plan. Attention now turns to flow testing Stanley-4, as well as well as the drilling of Falcon-1."
This was the last update on Falcon, on 17 Aug:
Falcon update
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development, and production company, announces an update on its Falcon-1 well at the Champion Project in Texas.
The drilling rig for Falcon-1 has been selected and the Operator has issued the cash call for the well drilling costs to participants, including Mosman, which the Company will pay shortly from existing funds. The drilling rig is being prepared for mobilisation to site with drilling planned once the rig is on-site and rigged up.
As part of its ongoing project evaluation, Mosman has reduced exposure to costs by farming out 10% of its working interest in the Champion Lease to an unrelated third party. That party will pay 13.34% of all costs of the site preparation, drilling and completion of Falcon-1 to earn a 10% interest in the lease.
John W Barr, Chairman, said: "We are pleased that the considerable work completed means drilling activity at the fully funded Falcon-1 well will commence shortly.
"Falcon-1 is just one part of the current activities with workovers, which will shortly be followed by a second funded well at Stanley. Each of these activities has a clear objective to build the production base."
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development, and production company, announces an update on its Stanley project in East Texas.
The drilling of Stanley-4 has now been agreed by the Working Interest Parties and Mosman has paid its portion of the cash call (16.5%). All working interest parties have agreed to participate and Mosman retains a 16.5% working interest in S4. Stanley-4 will utilise the already prepared well site and the existing infrastructure at Stanley.
Stenley-4 drilling is anticipated to commence soon as the drill rig is now on site, subject to the possible temporary suspension of operations due to severe weather (Hurricane Laura).
At Stanley-1, where the well has been largely shut in while workover operations have been ongoing, the Working Interest parties have now resolved to recomplete the well in a proven production zone. That workover is expected to happen soon, subject to weather.
The Stanley 2 and Stanley 3 wells continue to produce oil and are not expected to be affected by the weather.
John W Barr, Chairman, said: "We continue to work to increase our production base with two new fully funded wells, Stanley-4 and Falcon-1, and the Stanley-1 recompletion. The Board looks forward to results of these three wells in the near future".
http://www.share-talk.co.uk/announcements/rns/mosman-oil-gas/stanley-4-well-drilling-and-stanley-project-update/202008270935003338X
https://www.globenewswire.com/fr/news-release/2020/08/19/2080960/0/en/Norseman-Capital-Ltd-Completes-Acquisition-of-Caribou-Property-Option-and-Closes-450-000-Non-Brokered-Private-Placement.html
VANCOUVER, British Columbia, Aug. 19, 2020 (GLOBE NEWSWIRE) -- Norseman Capital Ltd. (NEX:NOC.H) (“Norseman” or the “Company”) is pleased to announce that, further to its announcement on June 3, 2020, it has completed the acquisition (the “Transaction”) of an option to acquire a 100% interest in certain mining claims located in the Skeena Mining Division area in British Columbia (the “Caribou Property”), pursuant to an option agreement (the “Option Agreement”) with Cloudbreak Discover Corp. (“Cloudbreak”).
Pursuant to the Option Agreement, in order to fully exercise the option (the “Option”), the Company shall pay to Cloudbreak an aggregate of $80,000 and 2,750,000 common shares in the capital of the Company (“Common Shares”) in three installments. The first installment is composed of $10,000, payable on the effective date (the “Effective Date”) of the Option Agreement and 1,000,000 Common Shares issuable within five business days of approval of the TSX Venture Exchange (“TSXV”). The second installment is composed of $20,000 and 750,000 Common shares and is payable on the first anniversary of the Effective Date. The third and final installment is composed of $50,000 and 1,000,000 Shares and is payable on the second anniversary of the Effective Date.
In addition, pursuant to the Option Agreement, the Company shall grant to Cloudbreak a 2.0% net smelter return (“NSR”) royalty. The Company shall have the right to acquire one-half of the NSR from Cloudbreak at a price of $1,000,000, in which case the Company shall have the right to acquire the remaining half of the NSR at price of $4,000,000, for an aggregate of $5,000,000.
Upon issuance of the final exchange bulletin of the TSXV, the Company will complete its reactivation from the NEX board of the TSX Venture Exchange (“TSXV”) to Tier 2 of the TSXV. It is anticipated that effective Monday, August 24, trading of the Company’s common shares will commence on the TSXV under the trading symbol “NOC”.
Non-brokered Private Placement
The Company also announces that it has closed its previously announced non-brokered private placement financing (the “Initial Offering”) of common shares (“Shares”). The Initial Offering consisted of the sale of 3,000,000 Shares at a price of $0.05 per Share for aggregate gross proceeds of $150,000.
The Company intends to use the net proceeds from the Initial Offering for general corporate and working capital purposes.
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development, and production company, is pleased to announce that it will be hosting an investor webinar via its joint broker, Monecor UK Limited on Wednesday 5th August 2020 at 17:00.
Investors can register to attend using the below link:
https://register.gotowebinar.com/register/5907193699015387664
Mosman are presenting at the Proactive One2One investor forum on Thursday evening: https://event.webinarjam.com/register/501/wyy3gsr9
I think that's been there a while, but hopefully not too much longer til they're in a position to update it further
Acquisition of assets in USA
Stanley 4 update
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, is pleased to announce that it has agreed the acquisition of interests in two leases in Texas, USA as the first step to expanding on the success of the Stanley project.
Greater Stanley
Mosman and its Strategic Alliance partner, Baja Oil and Gas LLC ("Baja"), have for some time worked to identify additional locations where the successful 3D Seismic led approach adopted at Stanley could be repeated and further commercial success obtained. This business development project is to be called "Greater Stanley".
This first acquisition of additional acreage is an existing oil producing lease "Greater Stanley 1" covering circa 36 acres and situated near the existing Stanley Project, where Mosman has participated in 3 wells. Acquisition of this lease will enable application of the technical work that has been successful at the Stanley wells. The Greater Stanley 1 lease is currently producing circa 6 bopd from two wells completed in the Sparta zone. The key benefit of the acquisition is the potential to apply the technical work successful at the Stanley wells to increase production from this lease. This may include re-entry and re-completion of one or both of the existing wells, or the drilling of new wells. The terms have been agreed and the transaction is subject to completion and registration.
The second acquisition is an adjacent lease circa 35 acre lease with no wells, "Greater Stanley 2". This area is being leased directly from landowners. Baja has been managing the acquisition process and Mosman expects to acquire at least a 25% working interest in that lease as part of that process.
The next step for the Greater Stanley Area is detailed technical work to determine the way forward, that may include drilling a well later in 2020.
The total cost to Mosman of the two acquisitions is circa USD30,000. Mosman's Strategic Partner Baja is also acquiring an interest in both acquisitions and will become the Operator of both leases.
Neither acquisition currently has any associated reserves or resources attributable to them.
Both acquisitions remain subject to agreeing final documentation and associated conditions precedent and are being funded out of the Company's existing cash resources.
Stanley-4 update
Mosman has been advised that site preparation work is continuing. The decision has been made to upgrade the access road to site and as a result Stanley-4 is now expected to be drilled in March 2020.
John W Barr, Chairman, said: "Mosman is pleased to provide tangible evidence of the benefit of its investment in business development work with Baja to increase Mosman's interests in Texas. The Greater Stanley area will enable additional activity aimed at increasing production."
Where x = 10p please