Mosman shares surge on Stanley-4 flow rate

Oil exploration, development and production company Mosman Oil and Gas updated the market on development drilling recently carried out at the Stanley Project on Monday, where it has a 16.5% working interest.

The AIM-traded firm said the operator has reported that Stanley-4 was now flowing around 155 barrels of oil per day, from a completion in the Frio sandstone at about 4,700 feet.

It said the oil was being stored in temporary tanks while new permanent tanks were installed to handle the flow rate.

“In the meantime, sale of oil from this well is expected to start this week,” the board said in its statement.

“An update on flow rates at Stanley-1 where a workover has recently been completed will be advised when received.”

At 0900 BST, shares in Mosman Oil and Gas were up 7.29% at 0.18p.