REG - Mosman Oil & Gas - Helium Exploration Leases in Colorado, USA

Mosman Oil and GasAnnouncement

19/12/2024 08:00

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RNS Number : 7354Q  Mosman Oil and Gas Limited  19 December 2024

 

19 December 2024

Mosman Oil and Gas Limited

("Mosman" or the "Company")

 

Approval Granted to Progress Helium Exploration Leases in Colorado, USA

 

Mosman Oil and Gas Limited (AIM: MSMN) the helium, hydrogen and hydrocarbon
exploration, development and production company, announces that it has secured
Tribal Council approval from the Ute Mountain Ute Tribe to lease 4,320 acres
of land ("the Coyote Wash Project") in order to explore for helium. This lease
acreage was targeted by Mosman after extensive technical review and is near
many existing helium discoveries and developments in the Four Corners area.

 

 

Highlights

 

 ·             The Tribal Council approval is the result of several months of negotiations
               with representatives of the Tribe.
 ·             The entire area has a high-resolution 3D survey which is available through the
               Tribe and an earlier interpretation conducted by Mosman's commercial partner,
               Four Corners Helium ("FCH"), which indicated several large attractive
               prospects. Mosman selected 4,320 acres from the larger survey area in order to
               select high grade prospects.

 

Background on the Coyote Wash Project

 

Four Corners Helium has cultivated a working relationship with the Ute
Mountain Ute ("UMU") Tribe in South West Colorado over the past four years.

 

FCH was given access to all Tribal seismic data, plus a Right of First Refusal
on helium leases within the Tribal boundary for which FCH provided a
proprietary helium assessment to the UMU Energy Committee. The acreage is
viewed as attractive for helium exploration and Mosman led a renegotiation of
the contract terms with the UMU.

 

Project plan

 

Following this important step, Mosman plans to finalise the Program of
Development ("POD") which includes NEPA ("National Environmental Policy Act")
and NHPA Section 106 ("National Historic Preservation Act"), which will
require approval by the BIA ("Bureau of Indian Affairs"). The POD will be a
general description of our planned activities on Tribal Land. We have engaged
an experienced Durango based Environmental consultancy firm to assist in the
preparation of these documents. This process is expected to be finalised by
the end of January 2025.

 

Once BIA approval is granted, a sum of US$30/acre will be paid to the Ute
Mountain Ute Tribe for the licence to explore the 4,320 acres (US$129,600)
with an expected initial exploration period of three years.

 

Andy Carroll, Chief Executive Officer of Mosman, said: "This is a major new
exploration project secured in a very attractive area for helium exploration.
The Four Corners Area has been a major focus for Mosman, and, at the point
this lease is subsequently granted, will complement our existing exploration
project portfolio in south-eastern Colorado and Australia."

 

 

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

 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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