Mosman Oil and Gas announces Petroleum Creek drilling has Commenced
Mosman Oil & Gas (AIM: MSMN), the New Zealand and Australia focussed oil exploration and development company, announces that drilling has started (spudded) today, on the first of its three planned wells in the 2014 drilling programme, at its Petroleum Creek Project in New Zealand.
On the first well, Cross Roads-1, Mosman plans to test Eight Mile and Cobden Limestone formations known to contain oil in offset wells. The well is being drilled vertically from a newly constructed well pad to an expected total depth of 400 m.
Mosman plans to release weekly drilling updates over the coming weeks.
John W Barr, Executive Chairman of Mosman commented: “We are pleased to commence drilling at Petroleum Creek so soon after the March 2014 IPO. The Board will meet onsite next week to review progress and also to meet with local contractors and stakeholders who have greatly assisted Mosman achieving this first milestone.”
Source: Mosman Oil and Gas