RCS - Mosman Oil & Gas - EP 145 - Helium Project Update

Mosman Oil and GasAnnouncement

31/05/2024 07:00

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RNS Number : 5388Q  Mosman Oil and Gas Limited  31 May 2024

 

31 May 2024

 

Mosman Oil and Gas Limited

("Mosman" or the "Company")

 

EP 145 - Helium Project Update

Greenvale Progresses 2D Seismic Approvals

 

Mosman Oil and Gas Limited (AIM: MSMN) the hydrocarbon, helium and hydrogen
exploration, development and production company, notes the update from
Greenvale Energy Ltd (ASX:GRV), its farmin partner and Operator of the EP 145
project in the Amadeus Basin in Central Australia.

 

Greenvale updated that: approvals are progressing and on track for seismic
acquisition to commence in August, allowing it to advance its high-potential
helium project in central Australia.

 

Highlights

 ·             EP 145 2D Seismic Environmental Management Plan submitted to DEPWS (Department
               of Environment, Parks and Water Security).
 ·             All remaining long-lead items ordered for the seismic program.
 ·             Seismic data acquisition expected to commence in August, providing a key
               dataset for Greenvale to target ultra-high-grade helium, hydrogen and
               hydrocarbon resources within the highly prospective Amadeus Basin.
 ·             EP145 represents an exciting opportunity for Greenvale to become a supplier to
               the rapidly growing helium market, which is experiencing severe supply
               shortages and strong demand growth and pricing.
 ·             EP145 contains a reported Prospective Resource Estimate of 440 Billion cubic
               feet (Bcf) of Total Gas including 26.4Bcf of Helium and 26.4Bcf of Hydrogen.

 

Greenvale's CEO, Mark Turner, commented: "We are pleased that the permitting
and approvals process for this 2D seismic program for EP145 is progressing
smoothly, with the start of this survey representing a key milestone to allow
us to finalise drilling locations to test the significant potential of this
exciting asset.

 

"Ongoing work programs by Greenvale and other operators in the Amadeus Basin
will help us to fully evaluate the significant helium and hydrogen potential
of this region and advance this exciting project for the benefit of our
shareholders."

 

The full announcement can be found at:
https://www.asx.com.au/markets/company/GRV
(https://www.asx.com.au/markets/company/GRV)

 

Mosman retains 25% of EP145 with 75% farmed out to Greenvale.

 

Andy Carroll, CEO of Mosman commented: "It is encouraging to see Greenvale
has progressed the permitting and approvals process for this 2D seismic
program for EP 145. Seismic is a step before drilling to test the significant
potential of this exciting helium and hydrogen asset and we look forward to
providing updates as Greenvale progresses."

 

Enquiries:

 Mosman Oil & Gas Limited                                     NOMAD and Joint Broker

 Andy Carroll                                                 SP Angel Corporate Finance LLP

 CEO                                                          Stuart Gledhill / Richard Hail / Adam Cowl

 acarroll@mosmanoilandgas.com                                 +44 (0) 20 3470 0470
 Alma                                                         Joint Broker

 Justine James / Will Merison                                 CMC Markets UK Plc

 +44 (0) 20 3405 0205                                         Douglas Crippen

 +44 (0) 7525 324431                                          +44 (0) 020 3003 8632

 mosman@almastrategic.com (mailto:mosman@almastrategic.com)

 

Updates on the Company's activities are regularly posted on its
website: www.mosmanoilandgas.com (http://www.mosmanoilandgas.com/)

 

Notes to editors

Mosman (AIM: MSMN) is an oil 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 of
existing exploration permits. The Company has several projects in the US, in
addition to exploration projects in the Amadeus Basin in Central Australia.

 

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