Champion Project

Mosman has acquired a 50% working interest in the 240 acre Champion Project, which includes the previously identified Falcon and Galaxie prospects.

The Champion Project located in East Texas and has several potential drilling locations identified using the same 3D seismic techniques as the Stanley Project.  

In accordance with the Agreements, Mosman has a 50% working interest in the Champion Project.  Baja, Contour Exploration & Production LLC; and two other parties hold working  interest.

In addition to Falcon, there are several other prospects in the project area that have been mapped by Baja using 3D seismic.  These include Galaxie, Durango, Corona East and Corona West.

In the first quarter 2021 the Falcon well continued to produce oil, gas and also water.  The water is unexpected and hinders production.  Water must be disposed off correctly and thus operating costs increased for water disposal.

In an attempt to overcome this problem, a workover and potentially a recompletion is currently under consideration. 

Flow test at Falcon-1