Mosman Oil and Gas ramps up production at Stanley as it prepares for asset sale
London, UK
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May 08, 2024 07:47 AM Eastern Daylight Time
Mosman Oil and Gas Ltd (AIM:MSMN) CEO Andy Carroll discusses the company's recent production increase at the Stanley project in the US, attributing the success primarily to improvements at Stanley-3 well.
Carroll highlighted that optimising production not only boosts revenue but also prepares the project for a potential sale. He revealed the company's strategy to refocus investment towards helium and hydrocarbon sectors, explaining that selling the well-positioned Stanley assets would generate substantial cash, particularly benefiting Australian operations.
Carroll also mentioned the completion of EP 145 Farm-in in Australia following final government approvals, with Greenvale set to fund upcoming seismic and drilling activities. He concluded by noting the strengthened company balance sheet and growing investor interest in helium, indicating a strategic pivot towards this sector for future developments.
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