REG - Mosman Oil & Gas - Vecta Project Billy Goat Drilling Update

Mosman Oil and GasAnnouncement

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RNS Number : 8136I  Mosman Oil and Gas Limited  15 May 2025

15 May 2025

Mosman Oil and Gas Limited

("Mosman" or the "Company")

Vecta Project Billy Goat Drilling Update

Mosman Oil and Gas Limited (AIM:MSMN) the helium, hydrogen and
hydrocarbon exploration, development and production company, is pleased to
announce a drilling update on the first exploration well, the Billy Goat lease
of the Vecta Project in Colorado, US in which Mosman has 90% interest.

 

Highlights

 

·   The Barclay-TH 295 106A well on the Billy Goat lease area has been
drilled a depth of 583 feet.

·     The well flowed gas from a zone at circa 240 feet in the Entrada
formation.

·     The well also flowed gas from a zone at circa 483 feet in the
Entrada formation. This flow rate was calculated to be 63 thousand cubic feet
per day ("mcfd").

·     Gas samples have been sent for analysis to determine composition.

 

Given these gas flows, casing will be set before drilling into the primary
target zone, the Lyons formation, which is sealed by the overlying Blaine
anhydrite. The expected depth of this well is circa 800 feet.

 

 

 

Schematic cross section illustrating the geology within the Vecta Project
Area. (Courtesy of Blue Star Helium Ltd. North American Helium Conference,
2023)

 

 

Vecta Project

 

The project has five areas leased (see below). Mosman has a 20% in the other
four lease areas.

 

The Barclay well on the Billy Goat lease area is the first well of a five well
drilling campaign.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Location Map illustrating the five prospects identified by surface mapping
within the Project Area. (Courtesy of Vecta Oil and Gas Ltd.)

 

Andy Carroll, Chief Executive Officer of Mosman, said: "The gas flows to
surface from the Entrada formation are a positive indication of both gas
charge and seal capacity at this shallow level.

 

"The primary target is the underlying Lyons formation helium reservoir which
is sealed by the Blaine anhydrite which will be drilled once casing has been
set. It is anticipated that drilling of this well will be completed in the
next few days."

 

 

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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