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Mosman Oil and Gas said a new well in Texas had flowed oil.
The stabilised rate from a six-foot interval from the Stanley-3 well was 192 barrels per day on an 8/64 inch choke. The optimal production rate for the reservoir would be determined by the operator in due course.
Mosman had a 14.9% working interest in the well.
'We are delighted with the progress at Stanley, with Stanley-3 delivering significant commercial success, as we build on our production growth,' chairman John W Barr said.
'This further reinforces the whole investment strategy pursued by Mosman, and we look forward to continued success with Stanley-4 being the next well to be evaluated.'
At 9:26am: (LON:MSMN) Mosman Oil And Gas Ltd share price was +0.01p at 0.31p