Mosman Oil and Gas output up 47% but misses expectations

Writer, Stock Market Wire
Wednesday, February 6, 2019 - 09:58

Mosman Oil and Gas said it produced 47% more oil and gas for the six months through December on-year, though that was less than expected due to bad weather.

Net production attributable to the company was 6,476 barrels of oil equivalent, up from 4,417 boe, and concentrated on the Stanley-1 well.

'The weather has resulted in lower production than expected, mainly due to wet road conditions affecting access to well sites,' the company said.

'Once the roads dry out, the workovers at Welch and drilling of Stanley-2 can proceed.'

'Both of these activities are expected to further increase production.'

At 9:58am: (LON:MSMN) Mosman Oil And Gas Ltd share price was -0.01p at 0.25p

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