REG - Mosman Oil & Gas - Exploration Update - Australia

Mosman Oil and GasAnnouncement

13/12/2024 09:45

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RNS Number : 0459Q  Mosman Oil and Gas Limited  13 December 2024

 

13 December 2024

Mosman Oil and Gas Limited

("Mosman" or the "Company")

 

Exploration Update, Amadeus Basin Central Australia

 

Mosman Oil and Gas Limited (AIM: MSMN) the helium, hydrogen and hydrocarbon
exploration, development and production company, holds 100% working interest
in one granted permit, EP-145 and one permit application, EPA-155 in the
highly prospective Amadeus Basin, Central Australia.

 

EP-145 update

 

 ·             Significant helium, hydrogen and hydrocarbon potential has been identified in
               this permit area.

 

 Prospective Resources (Bcf)  Low Estimate  Best Estimate
 Total Gas of                 12            440
 Helium                       0.3           26.4
 Hydrogen                     0.24          26.4

(Source: Mosman Oil and Gas Ltd, October 2022)

 

 ·             Seismic acquisition is scheduled for early 2025. Following receipt of
               necessary government approvals the agreement to the transfer of the EP-145
               interest and operatorship back to Mosman's wholly owned subsidiary, Trident
               Energy, has been registered and stamped.
 ·             "Transfer of Title" paperwork was submitted to the Northern Territory
               Government in November 2024 and is awaiting approval.
 ·             An Environmental Management Plan for the Wildhorse 2D seismic project was
               submitted on 26 November 2024 and Mosman anticipates approval approximately 30
               days from submission, subject to receipt of the AAPA heritage certificate
               which was requested in March 2024.
 ·             Given the time it takes to get the approvals listed above, a six month
               "suspension and extension" of Permit Year Three has been requested to extend
               from February to August 2025.

 

EPA-155 update

 

 ·             Mosman's wholly owned subsidiary company Oilco Limited ("Oilco") is the
               Applicant for the exploration permit 155.
 ·             Mosman has a farmout agreement with Georgina Energy PLC (GEX) whereby GEX may
               earn a 75% interest in EPA-155 by completing all the conditions of that
               agreement, including grant of the permit and technical work. This means Mosman
               is carried through the near term with an option to subsequently be carried
               through drilling the first well and retain 10% interest.
 ·             Traditional Owners have agreed to progress negotiations which are being
               handled by the farm-in partner Georgina Energy PLC (GEX).
 ·             For further information please refer to
               www.georginaenergy.com/investors/regulatory-news-alerts/
               (http://www.georginaenergy.com/investors/regulatory-news-alerts/)

 

 

Andy Carroll, Chief Executive Officer of Mosman, said: "We are pleased with
the progress being made across both these projects in Australia, which are
cornerstones of our exploration portfolio. These developments demonstrate
progress in our strategy to deliver on our exploration projects to meet both
growing global demand for helium and to replace declining hydrocarbon supply
in the Northern Territory."

 

 

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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