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
Andy Carroll
CEO
acarroll@mosmanoilandgas.com
|
NOMAD and Joint Broker
SP Angel Corporate Finance
LLP
Stuart Gledhill / Richard Hail / Adam
Cowl
+44 (0) 20 3470 0470
|
|
Alma
Justine James / Will
Merison
+44 (0) 20 3405 0205
mosman@almastrategic.com
|
Joint Broker
CMC Markets UK Plc
Douglas Crippen
+44 (0) 020 3003 8632
|
Updates on the Company's activities
are regularly posted on its website: 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.
