REG - Mosman Oil & Gas - USA Helium Project Update

Mosman Oil and GasAnnouncement

30/01/2025 08:30

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RNS Number : 2818V  Mosman Oil and Gas Limited  30 January 2025

30 January 2025

 

Mosman Oil and Gas Limited

("Mosman" or the "Company")

 

USA Helium Project Update

 

 

Mosman Oil and Gas Limited (AIM:MSMN) the helium, hydrogen and
hydrocarbon exploration, development and production company, announces an
update on the Vecta helium project and the Sagebrush project acquisition.

 

Vecta Helium Project

 

Vecta Oil and Gas Ltd, operator of the Vector Helium project in which Mosman
has 20% WI, has signed a drilling contract with Desert Eagle Drilling LLC
("DED") to drill five wells. DED is the drilling arm of Desert Eagle Operating
LLC which has successfully drilled and is producing helium at the Red Rock
field wells in Las Animas County, Colorado. The drilling contract includes the
intention to commence drilling as soon as possible, depending on timing of
various routine matters and weather conditions. Further details will be
provided in due course.

 

Sagebrush Project

 

At the Sagebrush Project, due diligence has been satisfactorily completed for
the acquisition of an 82.5% working interest from Seeley Oil Company and the
completion process has commenced. Given the time zones with USA and Australia,
a 31 January completion may not be announced in London until Monday 3
February.

 

 

Map of Sagebrush and Coyote Wash Projects

 

Sagebrush production infrastructure

 

 

Andy Carroll, Chief Executive Officer of Mosman, said: "We are pleased the
drill contract has now been signed on the Vecta project and to see this
progressing. The Company is also on track to finalise this important Sagebrush
acquisition where we believe there is significant helium potential and
additional oil potential and where oil revenue from the existing producing
wells will help fund the ongoing exploration and development program."

 

 

 

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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