REG - Mosman Oil & Gas - Vecta Helium Project Update

Mosman Oil and GasAnnouncement

06/05/2025 10:15

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250506:nRSF4914Ha&default-theme=true

RNS Number : 4914H  Mosman Oil and Gas Limited  06 May 2025

6 May 2025

 

Mosman Oil and Gas Limited

("Mosman" or the "Company")

 

Vecta Helium Project Update

 

Mosman Oil and Gas Limited (AIM:MSMN) the helium, hydrogen and
hydrocarbon exploration, development and production company, announces the
drilling rig has been mobilised on the Vecta project, Colorado, USA, at which
Mosman has a 20% working interest ('WI').

 

Further to the announcement that Vecta Oil and Gas Limited ("Vecta"), as the
Operator, had signed a drilling rig contract with Desert Eagle Drilling LLC
("DED") and several matters needed to be resolved before drilling would
start, Vecta has advised the drilling rig is now on location at the Billy
Goat lease for the first of the five wells to be drilled in this campaign. At
Billy Goat the Company is targeting the Lyons formation with an anticipated
target depth of 1200 feet.

 

The rig crew has a scheduled break and drilling is expected to commence once
they return on 13 May.

 

Photo: Mosman team inspecting DED rig on 11 April 2025 drilling on nearby Red
Rocks Project

 

 

Andy Carroll, Chief Executive Officer of Mosman, said: "We are pleased to have
progressed to the point of drilling rig on location and drilling commencing
soon at these five wells at Vecta. Each of the prospects has been identified
by Vecta based on years of experience and a thorough review of existing data,
and we are pleased to be in a joint venture with Vecta.

 

"Each prospect has its own individual characteristics. Mosman considers the
key factors to be the helium concentration and the reservoir pressure that
indicates the well production potential. One of the prospects is near the
Model Dome field that was produced in the 1920s and had helium concentrations
of 7-11%.

 

"I am encouraged to see positive results at the Blue Star Helium/Helium One
projects in the same area as the Vecta Project."

 

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.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDSSASUMEISESI