REG - Mosman Oil & Gas - Vecta Project Drilling Commenced

Mosman Oil and GasAnnouncement

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RNS Number : 6096I  Mosman Oil and Gas Limited  14 May 2025

14 May 2025

Mosman Oil and Gas Limited

("Mosman" or the "Company")

Vecta Project Drilling Commenced

Mosman Oil and Gas Limited (AIM:MSMN) the helium, hydrogen and
hydrocarbon exploration, development and production company, is pleased to
announce the spudding of the first exploration well of a five well programme
in the Vecta Project, Las Animas County, Colorado, US.

 

Highlights

 ·             Drilling has commenced and surface casing set.
 ·             The Barclay-TH 295 106A well will test the Lyons Sandstone formation at the
               Billy Goat lease area ("AMI"), with a planned total depth ("TD") of circa
               800ft in the Lyons Sandstone.
 ·             Drilling will continue to determine top of Lyons formation, and then to TD.
 ·             Gas will be tested to determine concentrations of gases, including helium.
 ·             Wireline logging will be conducted at TD to determine the reservoir and
               gas/fluid properties.

 

Vecta Project (90% interest in Billy Goat, 20% working interest in other
areas)

 

The Vecta Project is operated by Vecta and is located in Las Animas County,
close to the Red Rocks helium producing field, and Blue Star Helium's
Galactica development project. Helium concentrations of up to 11% have been
encountered in offset wells and fields in the area, with the closest well,
Texaco Cynthia True-1, flowing 8.8% helium from the upper Lyons sandstone.

 

A total of five wells are planned to be drilled in this drilling campaign,
testing five individual structural closures.

 

 

 

 

 

 

 

 

 

 

 

 

 

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 drilling of this
Billy Goat well is exciting given the excellent lease position in a proven
area of helium development and production

 

"Each well location has been carefully selected by the very experienced team
at Vecta and we believe each well has an excellent chance of discovering
helium. The low-cost drilling of these wells enables data to be obtained at
very reasonable cost.

 

"This location has good access to infrastructure including roads, pipelines
and the Ladder Creek helium plant located at Cheyenne Wells, about 100 miles
north of Billy Goat."

 

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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