RNS Reach
4 March 2024
Mosman Oil and Gas
Limited
("Mosman"
or the "Company")
Helium and Hydrogen
Exploration update at EP 145
Mosman Oil and Gas Limited (AIM:
MSMN) the hydrocarbon, helium and hydrogen exploration,
development, and production company, provides a project update on
its Australian project EP 145 and confirms it has committed to long
lead items for the seismic acquisition.
In Australia, the recent farmin
agreement on EP145 with Greenvale Gold Pty Ltd ("Greenvale",
ASX:GRV)) remains subject to completion, pending ministerial
approval. The recent Amendment Deed requires Mosman to fund costs
until completion, when Greenvale will re-imburse approved
costs.
Mosman has now committed to start
acquisition of long lead items for seismic acquisition. This
decision was made given the high confidence in the completion of
the farmin agreement, and with GRV confirming these costs will be
re-imbursed upon completion.
The seismic acquisition programme is
planned for the first half of 2024, with results due and a well
location announced before end of Permit Year 3 in August 2024,
followed by drilling in the following Permit Year.
Mosman has published a Prospective
Resources estimate of 440 total gas including 26 bcf of helium and
26 bcf hydrogen.
As Greenvale note in their ASX
announcements, helium has a "surging price
and fast-growing market" and "the global helium market is forecast
to grow from US$5 billion in 2023 to over US$8 billion by 2030"
with a current price of USD 450/Mscf.
Greenvale also noted that: the
Amadeus Basin has some of the highest concentrations of helium
globally, as well as confirmed hydrogen accumulations; EP145 sits
within recognised play fairways for helium and hydrogen and
contains proven hydrocarbon discoveries; it lies on-trend
with the producing Merenie Oil & Gas Field; has successful
helium wells located along the margins of the Amadeus Basin at Mt
Kitty-1 and Magee-1; and an existing pipeline infrastructure to
Australian East Coast provides opportunity for early
commercialisation.
Andy Carroll, CEO of Mosman
commented: "We are pleased to see continued progress in EP 145 where we
see potential for helium and hydrogen."
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
+44 (0) 7525 324431
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 an oil 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 of existing exploration permits. The Company has
several projects in the US, in addition to exploration projects in
the Amadeus Basin in Central Australia.