REG - Mosman Oil & Gas - AGM Statement

Mosman Oil and GasAnnouncement

28/11/2024 11:00

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RNS Number : 0037O  Mosman Oil and Gas Limited  28 November 2024

28 November 2024

 

Mosman Oil and Gas Limited

("Mosman" or the "Company")

 

AGM Statement

 

 

Mosman Oil and Gas Limited (AIM:MSMN) the helium, hydrogen and
hydrocarbon exploration, development and production company, will hold its
AGM  at 12:00pm (AEDT) on 29 November at which the Company will make the
following statement:

 

"2024 was a year of transformation and transactions, a year in which Mosman
successfully pivoted from oil and gas production to helium-focused
exploration. Mosman has identified helium opportunities in the USA which will
provide exploration upside with the potential for a near-term path to
operating cash flow, in conjunction with increasing exploration activity on
our two exploration permits in Australia.

 

The pivot was achieved with the sale of Stanley oil assets and the acquisition
of a 20% working interest in the Vecta Helium Project in the USA.The Vecta
project is a good example of our strict helium acquisition criteria that
includes exploration in a first-world proven helium province with high helium
concentrations, with access to infrastructure and markets. This project
consists of five separate leased areas near proven helium production and
drilling of five low cost exploration wells is expected to commence in
December 2024.

 

The Company continues to progress other helium business development
opportunities and is actively assessing several additional potential projects
in the USA to expand our helium portfolio.

 

The two projects in Australia's Amadeus Basin that are prospective for helium,
hydrogen and hydrocarbons continue to make progress: EP-145 seismic
acquisition is pending approvals including the Environmental Management Plan
which we hope to secure in the coming months. At EPA-155, Mosman awaits
further updates from its farm-in partner which has reported successful
meetings and is reprocessing and remapping 2D seismic data in line with its
farm-in obligations.

 

Looking ahead, we have a clear focus on building the Group's helium portfolio,
with a strengthened team in both the US with Howard McLaughlin, head of US
Operations, assessing new helium opportunities with Tim Rynott, Mosman's
helium consultant, and with Doctor Julie Daws who is leading Mosman's
Australian exploration activities.

 

Importantly, the Company retains a healthy cash position which will allow the
team to pursue and progress new projects and we look forward to reporting on
the teams' progress over the coming months."

 

 

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 (mailto: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

 mosman@almastrategic.com (mailto:mosman@almapr.co.uk)                +44 (0) 020 3003 8632

 

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 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.

 

 

 

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