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Halfmoon Pond is similar to many Central Maine trout ponds in that there is good habitat for adult brook trout, but spawning and nursery habitat is either lacking or non-existent The annual stockings of adult brook trout are necessary in maintaining this excellent sport fishery. The smallmouth bass fishing is also considered excellent although large trophy-size fish are very rare. This is a great pond for the bass angler to catch and release fish almost at will.
Halfmoon Pond is used as a water source for the Searsport Water District. The water district also provides access to the pond. An unimproved launch for small boats and canoes is located on the south shore.
The Department of Fish and Wildlife is trying to introduce crayfish into the pond for a supplemental food source for both brook trout and smallmouth bass. To date no there is no evidence to substantiate that these introductions were successful.