- Oil company Mosman Oil and Gas said drilling had commenced at the Falcon-1 well at the Champion project in eastern Texas.

Mosman had a 50% working interest in the well and the lease.

The well was being directionally drilled to penetrate two prospective target zones in the Frio sandstone, a prolific production zone in the area.

'Falcon-1 is the first well that Mosman has participated in at the Champion project,' chairman John W Barr said.

'Success at Falcon would be a major step forward for Mosman to build production and provide information for further drilling and development of the Champion area.'

At 1:46pm: [LON:MSMN] Mosman Oil And Gas Ltd share price was -0.01p at 0.17p

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