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20mil trade just popped up. Is someone in the know? That's the £64,000 question!
Yes S2 recompletion has been done and awaiting flow rates, S1 flow rates up too
Here is the video of AC at the conference https://www.proactiveinvestors.co.uk/companies/stocktube/13883/mosman-oil--gas---proactive-s-oil-capital-conference-june-2019-13883.html
AC talking to Proactive: https://www.proactiveinvestors.co.uk/mediaFiles/stocktubeDetails/13875/mosman-oil--gas-pleased-with-stanley-progress-as-it-prepares-for-third-well-13875.html
Good to see oil on the increase today - WTI touching $56 at present
Mosman are presenting at the Oil Capital Conference in London next Tuesday: https://www.oilcapital.com/conferences/
It does seem as though we are heading into a period of sustained activity of one sort of another, perhaps this is why we are now on Twitter...
It sounds like the recompletion of Stanley 2 is imminent so we will hopefully have some idea about the impact it has had in a month or so.
Bank of America is predicting Brent to hit $90 if certain factors come into play - WTI would presumably be up to around $75 if that was the case... https://oilprice.com/Energy/Oil-Prices/Bank-Of-America-90-Brent-May-Be-Around-Corner.html
Yes, but JB has cautioned that that is an informed guess at this stage. He also says that Champion is similar to Stanley, which could point to 300bopd gross.
The first Champion well (most likely to be Falcon) is projected to give 40 barrels per day net to Mosman (p13 of the corporate presentation - this takes into account last week's farm in, too). Given that Stanley rates came in considerably higher than predicted, the two funded wells at Champion could raise our production numbers substantially. Let's hope the drill bit gets turning at the start of Q3 rather than the end!
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, advises that it has today executed a Farm-out agreement for the Champion Project with the ASX listed Xstate Resources Limited ("Xstate") (ASX:XST).
Currently Mosman owns a 60% working interest in the Champion Project, containing the Falcon prospect ("Falcon") and the Galaxie prospect ("Galaxie").
Under the term of the Farm-out Xstate will earn:
1. A 25% interest in the first lease area drilled by paying USD 50,000 and 33% of the well cost to drill, complete and install production facilities (capped at 33% of USD 600,000, and 25% of any additional cost), and
2. A 25% interest in the second lease area by paying 33% of the well drilling cost (capped at 33% of USD 450,500, and 25% of any additional cost).
Therefore, should Xstate complete its obligations Mosman's working interest will be reduced from 60% to 35%.
This Farm-out agreement means Mosman will retain a material interest in these leases, whilst significantly reducing the cost and funding requirements to Mosman of drilling these two wells which are scheduled to be drilled in 2019.
Champion
Mosman currently has a 60% working interest in the Champion Project, located in East Texas. There is established oil and gas production and infrastructure in the area. Several prospects have been identified using 3D seismic, including Falcon and Galaxie.
Baja Oil and Gas LLC has a 40% interest in the Champion Project and remains as Operator.
John W Barr, Chairman, said: "The technical advantage of 3D seismic and directional drilling has been demonstrated at Stanley, and we look forward to applying this technology to drilling at Champion, as well as further development wells at Stanley and Challenger projects in due course."
I am not certain but it looks as though the Baja website has recently been updated with prospective timelines for Challenger and Champion (apologies if this is old news!).
For Challenger it now states...
Substantial PUD reserves, identified within 3rd Party reserves report, on Baja acreage.
3D seismic data evaluation is nearing completion and drilling location selection and prioritization is underway.
Due to weather delays that have caused schedule delays in other project areas , the Challenger drilling program is now planned to commence in late 2019.
For Champion it says...
Well planning and engineering is underway, drill site locations selected and inspected, with objective to commence drilling of highest ranked prospects in 2019.
Somebody hoovering up 500k chunks again today
Just in case anyone hasn't seen them, thought it would be worth reposting the latest media interviews:
Mosman Oil & Gas's John Barr discusses Q1 production increase and Australia plans: https://www.youtube.com/watch?v=5bSKXUAzvyU&feature=youtu.be
John Barr announces the latest production update which shows a 59% increase in quarterly production. The recent success at Stanley and the potential new wells under consideration should further lift production for the Company moving forwards: https://www.brrmedia.co.uk/broadcasts/5cc04461764f9020ae583def/event/?previewEventId=5cc04461764f9020ae583def
The American Petroleum Institute gravity, or API gravity, is a measure of how heavy or light a petroleum liquid is compared to water: if its API gravity is greater than 10, it is lighter and floats on water; if less than 10, it is heavier and sinks.
So says Wikipedia anyway
Like buses, two come along at once! https://www.brrmedia.co.uk/broadcasts/5cc04461764f9020ae583def/event/?previewEventId=5cc04461764f9020ae583def
RBC strategists raised significantly their oil price forecasts for the average prices of Brent and WTI this year. Brent Crude is now seen averaging $75 a barrel in 2019, up from the previous call of $69.50, while WTI is expected to average $67 per barrel throughout the year, up from $61.30 in RBC’s previous estimate.
oilprice.com/Energy/Oil-Prices/Brent-Could-Hit-80-This-Summer-As-Hedge-Funds-Lose-Steam.html