Production Increase at Stanley

Mosman Oil and Gas Limited (AIM: MSMN) the hydrocarbon, helium and hydrogen exploration, development, and production company, provides an update on its Stanley project in the US (34.85% to 38.5% WI) where the recent gross production has increased to circa 93 bopd (five-day average flow rate). This is a material improvement from the recently notified December quarter gross average flow rate of 43 bopd.

This has been achieved following a period of production equipment reconfiguring and optimisation, including the installation of surface and downhole equipment to boost production with jet pumps. Whilst this increased production rates, it also introduced an issue of fine sand production. Initially this was managed by screens, but the sand blocked the screens and resulted in periodic shut-downs. The issue has now been resolved by using settling tanks.

The Company will provide details on all the production at all assets as part of its March 2024 quarter update expected to be announced by early May 2024.

Andy Carroll, CEO of Mosman commented: "I am pleased that the continued work on the Stanley project is now achieving stronger production numbers.

"This flow rate is positive for commercialisation of the asset through ongoing cashflow or sale of the asset."