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Mosman issue update after severe weather in Texas
StockMarketWire.com
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Oil exploration company Mosman Oil & Gas has today provided an update on US operations following severe freezing weather.
The company announced that upgrades had been installed at the Falcon-1 well, of which Mosman has a 50% interest in, after being closed temporarily due to poor weather. The operator expects to have the well back on production once freezing conditions end, which are forecast to improve and warm up on Saturday.
Stanley-1 well generated initial flow rates of 47 barrels of oil per day, meanwhile, Stanley wells 2, 3, and 4 continue production at around 260 bopd gross.
John W. Barr, chairman, said: 'For the moment, the safety of people, and the operations is imperative. Hopefully, normality will return shortly, along with communications that have been difficult due to rolling power blackouts.'
Mosman has also confirmed its intention to participate in the drilling of multiple wells in the coming year, including additional drilling at the Stanley project, where four successful wells have already been drilled.
At 2:05pm: (LON:MSMN) Mosman Oil And Gas Ltd share price was 0p at 0.16p
Story provided by StockMarketWire.com
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