Cinnabar Lease

Mosman has a 75% working interest in the circa 350 acre Cinnabar Lease in East Texas.

There are two older wells on the Lease which have previously produced significant quantities of oil but are now shut in.  

In 2021 Mosman engaged a third party group to review Cinnabar including potential revised drill locations.  As a result of this, the decision was made to proceed and drill the Cinnabar-1 well.

Mosman's US subsidiary is the Operator and contract operator services are provided by Contour Exploration and Production,  a company owned by, Mr Howard McLaughlin.  

A Reserve Report indicates the project has Reserves (gross) as follows (thousands of barrels of oil equivalent “MBOE”):

Proved
Developed
Producing
Proved
Developed
Behind Pipe
Proved
Undeveloped
Total
Proved
Total
Probable
Total
Proved
Plus Probable
2
49
614
665
184
849

This Reserves Report was prepared by a third party independent petroleum engineering firm for Barry Lasker, a Managing Partner at Baja, in June 2017 and conforms to SPE-PRMS petroleum guidelines. The royalties on the lease are circa 25%.

In October 2022, Mosman drilled the Cinnabar-1 successfully to a depth of 9,900 feet.  Multiple oil bearing Wilcox Sands from 9,050 feet to 9,850 feet.  The Wilcox Sands are the primary targets which notably have a long production history in nearby wells.

Mosman is currently in the process of placing the well on production.

 

Cinnabar Site

 

Video: Click here to view Cinnabar current site activity