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Investegate |Mosman Oil & Gas Announcements | Mosman Oil & Gas: Half Year Results


 
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development and production company, announces its Half Year results to 31 December 2020.
 
Summary
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With a clear focus on the higher margin operations, Mosman took the decision to sell the Welch project and shares in Norseman.
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Proceeds applied to drilling, completing, and installing production facilities at Falcon and workovers at Stanley and Greater Stanley.
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COVID-19 constraints and some production challenges resulted in lower production, which was also impacted by a volatile oil price further affecting revenue
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Revenue of AUD380,000 and Gross Profit AUD56,828
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Net loss of AUD0.7m impacted by production challenges and the volatile oil price in 2020 ....

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