Shares of Mosman Oil and Gas (LON: MSMN) have fallen just under 1% Wednesday following an update on the Stanley-5 well in Polk County, East Texas.
Mosman said the Stanley-5 has been drilled to the target depth, logged, and cased.
“Several Yegua sands from 4200-4800 feet have been identified as oil bearing from logs and sidewall cores,” The company said in a statement.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
The AIM-quoted company went on to say that the well will be completed for production, and flow rates will be published when available.
John W Barr, Chairman of Mosman Oil and Gas, said: “This fifth successful well at Stanley is the next step to building on our delivery against the strategic objective to increase production, in addition to the recent successful wells drilled at Falcon and Winters.
“The combination of these developments, increased equity at our Stanley and Falcon projects and the much stronger oil and gas sales prices, means increased revenues and growth. The higher prices should also increase the potential value of the Cinnabar redevelopment project, where technical work continues to identify drilling locations.”
The company’s shares fell to a low of 0.135p earlier in the session. They are currently down at 0.14p or -0.91%.
Should you invest in Mosman Oil and Gas shares?
Mosman Oil and Gas shares are traded on the London stock exchange’s AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Omega shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
[optin-monster slug=”p0ejbloqlwcce16kx3do”]
