REG - Mosman Oil & Gas - EP 145 Update

Mosman Oil and GasAnnouncement

06/08/2024 11:00

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RNS Number : 3790Z  Mosman Oil and Gas Limited  06 August 2024

6 August 2024

Mosman Oil and Gas Limited

("Mosman" or the "Company")

 

EP 145 Update

Helium and Hydrogen project work programme now underway with Greenvale Energy

 

Mosman Oil and Gas Limited (AIM: MSMN) the helium, hydrogen and hydrocarbon
exploration, development and production company, has received notification of
an extension to the EP 145 Permit by the NT Government until 21 February 2027
and a six month suspension of the Year 3 work program conditions to 21
February 2025. At the end of this initial five year term, the participants can
apply for a further five years. EP 145 is an exploration permit in Australia
in which Mosman holds a 25% interest. The Operator, Greenvale Energy Ltd
("Greenvale") continues to progress exploration with the next activity being
acquisition of seismic, followed by drilling in 2025.

 

Background to EP145

 

Two wells have been drilled in EP 145 that encountered hydrocarbons and were
not tested for hydrogen or helium. Most wells in the Amadeus Basin that have
been tested for helium have significant helium content.

 

Pursuant to the Farmin Agreement, Greenvale earnt 75% by funding the seismic
program and the drilling of one well up to a cap of AUD $5.5 million.

 

A seismic data set was reprocessed by Mosman and a large extension of the
Mereenie anticline structure was identified. Mosman published a Prospective
Resource estimate for EP-145 in October 2022 (detailed below).

 

 Prospective Resources (Bcf)  Low Estimate  Best Estimate  High Estimate
 Total Gas                    12            440            2,290
 Helium                       0.3           26.4           229
 Hydrogen                     0.24          26.4           275

 

As Greenvale, Mosman's farmin partner and operator of the EP 145 project, note
in its ASX announcements, EP 145:

 

·      Sits within recognised play fairways for helium and hydrogen;

·      Contains proven hydrocarbon discoveries;

·      Lies on-trend with the producing Mereenie Oil & Gas Field;

·      Is close to existing pipeline infrastructure that provides
opportunity for early commercialisation.

 

Andy Carroll, CEO of Mosman commented: "We are pleased the EP 145 exploration
progresses with this time extension required due to the NT elections. We look
forward to this exciting helium project progressing through its seismic and
drilling programme, along with our other helium project in the Amadeus Basin,
EP(A)155"

 

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                                             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

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

 mosman@almastrategic.com (mailto:mosman@almapr.co.uk)

 

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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