Mosman Oil and Gas Ltd. found hydrocarbons at the Falcon-1 well on the Champion Project in East Texas.
Wireline logs indicate good porosity and hydrocarbons in the primary and secondary Frio sandstone target zones interbedded with shale between 7,100-7,550 ft TVD. The primary zone is about 90 ft thick. Mud logs also showed hydrocarbons in these zones with an increase in mud gas readings from a background of about 30 units to over 3,000 units in the primary zone.
Casing will be run, and the well will be flow tested once the drilling rig is released and production testing equipment is on site.
Falcon-1 well is the first well that Mosman has participated in at Champion. Mossman has 60% working interest in the well and it is required to pay 80% to complete its acquisition, according to an August 2020 company presentation.