24 December 2024
Mosman Oil and Gas
Limited
("Mosman"
or the "Company")
Update on Vecta Helium
Project, USA and EP-145, Amadeus Basin, Australia
Mosman Oil and Gas Limited (AIM:
MSMN) the helium, hydrogen and
hydrocarbon exploration, development and
production company, provides and update on the Vecta Helium Project
in Colorado, USA (20% WI) and EP-145 (100% WI) in the highly
prospective Amadeus Basin, Central Australia.
Vecta Helium Project
Mosman has a 20% WI in the Vecta
project which has five lease areas each with a low cost exploration
well drilling location identified. In June 2024, the Operator
advised drilling would commence in 2024, however the project
Operator has not yet secured a rig, but is actively seeking a rig
to drill these five wells, and is therefore not able to provide a
definite schedule for drilling. Once a rig is contracted, drilling
could commence within a few days.
EP-145 update
Two key approvals have been granted,
the Environmental Management Plan, which was submitted on 26
November 2024 and the project has also received the Aboriginal
Areas Protection Authority (AAPA) Clearance Certificate.
Andy Carroll, Chief Executive Officer of Mosman, said:
"We are pleased with the progress
being made on EP-145 where Mosman is the Operator. We are
disappointed that drilling has not already started on the Vecta
project, where we are not the Operator, as this was advised as a
reasonable expectation when the project was acquired in June this
year. Notwithstanding this, Vecta remains attractive due to the low
cost of drilling, the high helium concentrations produced in this
part of Colorado and the proximity to production
infrastructure."
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed
by the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has
been incorporated into UK law by the European Union (Withdrawal)
Act 2018. Upon the publication of this announcement via Regulatory
Information Service ('RIS'), this information is now considered to
be in the public domain.
Enquiries:
|
Mosman Oil & Gas Limited
Andy Carroll
CEO
acarroll@mosmanoilandgas.com
|
NOMAD and Joint Broker
SP Angel Corporate Finance
LLP
Stuart Gledhill / Richard Hail /
Adam Cowl
+44 (0) 20 3470 0470
|
|
Alma
Justine James / Will
Merison
+44 (0) 20 3405 0205
+44 (0) 7525 324431
mosman@almastrategic.com
|
Joint Broker
CMC Markets UK Plc
Douglas Crippen
+44 (0) 020 3003 8632
|
Updates on the Company's activities
are regularly posted on its website: www.mosmanoilandgas.com
Notes to editors
Mosman (AIM: MSMN) is a helium,
hydrogen and hydrocarbon exploration, development, and production
company with projects in the US and Australia. Mosman's strategic
objectives remain consistent: to identify opportunities which will
provide operating cash flow and have development upside, in
conjunction with progressing exploration. The Company has several
projects in the US, in addition to exploration projects in the
Amadeus Basin in Central Australia.