StockMarketWire.com - Oil company Mosman Oil and Gas said drilling had commenced on the Stanley-4 well in Texas.

The well, which was spudded on Saturday, was drilling ahead at a last reported depth of 2,980 feet, with a target depth of 5,100 feet.

At Stanley-1, meanwhile, the first workover rig and crew did not meet the operator's stipulated criteria, the company said.

Another workover rig would be deployed to conduct the workover in due course.

At Falcon-1, a rig move was expected to start in the next few days and drilling of the well was anticipated to started next week and be completed this month.

'We are pleased to see drilling at Stanley-4 underway and keen to get the right quality of rig on site at Falcon so we can start drilling soon,' chairman John W Barr said.

'There is considerable enthusiasm from the team to get wells completed and obtain test results. We look forward to updating shareholders in due course.'


At 1:15pm: [LON:MSMN] Mosman Oil And Gas Ltd share price was +0.01p at 0.2p



Story provided by StockMarketWire.com