Mosaic struggles to notch up new Permian success

摘要

IF Mosaic Oil NL was pinning its hopes on the Waggamba-1H well helping to resurrect its share price,following the year's earlier change in management,a troubled start to its gas supply contract with the Swanbank power station,and the disappointing results from the Whinstanes-1 well,it is having a hard time of it After the dry Whinstanes well failed to recover economical gas from the Permian,initially derailing Mosaic's ability to meet a second tranche of gas under contract CS Energy from April,the company was able to renegotiate a new gas supply agreement on a best endeavours basis of up to 8.2 TJ/d from gas wells in the Silver Springs and Waggamba areas until gas from the Waggamba wells exceeds 3 PJ per year.