LONDON – Mosman Oil and Gas Limited (AIM: MSMN), an exploration and production company specializing in helium, hydrogen and hydrocarbons, has provided updates on two of its key projects: the Vecta Helium project in Colorado, USA, and the EP-145 in… Amadeus (BME:) Basin, Central Australia.
For the Vecta Helium project, in which Mosman has a 20% working interest, progress has been slower than expected. The project operator had previously indicated that drilling would begin in 2024, but it has not yet obtained a drilling rig. The search for the drilling platform continues, and it is expected that drilling will begin shortly after contracting for the platform, with the possibility of starting within days of securing the necessary equipment.
In contrast, the EP-145 project, where Mossman WI is 100% owned and operated, has seen significant developments. The project recently received two important approvals: an Environmental Management Plan, submitted on November 26, 2024, and an Aboriginal Areas Protection Authority (AAPA) Certificate of Clearance. These developments represent significant progress in the project timeline.
Mosman CEO Andy Carroll expressed satisfaction with developments at EP-145 but expressed disappointment regarding drilling delays at the Vecta Helium project. Despite this setback, Carroll highlighted the attractiveness of the Vecta project, citing low drilling costs, high helium concentrations in the area, and its proximity to existing production infrastructure.
The Mosman announcement is considered inside information as defined by the Market Abuse Regulations (MAR), and with its release to the public, it is now in the public domain.
The information in this article is based on a press release issued by Mosman Oil and Gas Limited.
This article was created with the power of artificial intelligence and reviewed by an editor. For more information, see our terms and conditions.
