- Oil company Mosman Oil and Gas said it had completed drilling of the Falcon-1 well on the Champion Project in East Texas and was about to run wireline logs to evaluate its quality.

The well had been drilled to a target depth of around 7,762 feet and encountered several Frio sandstones as expected, confirming the geological model based on 3D seismic and nearby wells.

Mosman said it would report on the results of the wireline logs once they had been evaluated.

'Based on the results so far, the decision has been made to run casing in the expectation of completing the well as a production well,' it added.

At 1:40pm: [LON:MSMN] Mosman Oil And Gas Ltd share price was +0.03p at 0.19p

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