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Mosman Oil & Gas Ltd - oil projects in US and Australia - Begins drilling at Cinnabar-1 well in Tyler County, Texas. Says the Cinnabar well is planned for a vertical depth of 9,900 feet. The primary targets are the Wilcox sands, which produce oil and gas in nearby wells, it notes. Expects the drilling to take around two weeks. Mosman holds a 75% working interest in the well and is the operator.
In September, Mosman reported a further delay to the spudding of the well, as it waited for the arrival of a rig.
Current stock price: 0.070 pence, up 7.7% on Monday
12-month change: down 53%
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