REG - Mosman Oil & Gas - Update on Vecta Helium Project and EP-145

Mosman Oil and GasAnnouncement

24/12/2024 09:45

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RNS Number : 2956R  Mosman Oil and Gas Limited  24 December 2024

 

24 December 2024

Mosman Oil and Gas Limited

("Mosman" or the "Company")

 

Update on Vecta Helium Project, USA and EP-145, Amadeus Basin, Australia

 

Mosman Oil and Gas Limited (AIM: MSMN) the helium, hydrogen and hydrocarbon
exploration, development and production company, provides and update on the
Vecta Helium Project in Colorado, USA (20% WI) and EP-145 (100% WI) in the
highly prospective Amadeus Basin, Central Australia.

 

Vecta Helium Project

 

Mosman has a 20% WI in the Vecta project which has five lease areas each with
a low cost exploration well drilling location identified.  In June 2024, the
Operator advised drilling would commence in 2024, however the project Operator
has not yet secured a rig, but is actively seeking a rig to drill these five
wells, and is therefore not able to provide a definite schedule for drilling.
Once a rig is contracted, drilling could commence within a few days.

 

EP-145 update

 

Two key approvals have been granted, the Environmental Management Plan, which
was submitted on 26 November 2024 and the project has also received the
Aboriginal Areas Protection Authority (AAPA) Clearance Certificate.

 

Andy Carroll, Chief Executive Officer of Mosman, said: "We are pleased with
the progress being made on EP-145 where Mosman is the Operator. We are
disappointed that drilling has not already started on the Vecta project, where
we are not the Operator, as this was advised as a reasonable expectation when
the project was acquired in June this year. Notwithstanding this, Vecta
remains attractive due to the low cost of drilling, the high helium
concentrations produced in this part of Colorado and the proximity to
production infrastructure."

 

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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