6 August 2024
Mosman Oil and Gas
Limited
("Mosman"
or the "Company")
EP 145
Update
Helium and Hydrogen project
work programme now underway with Greenvale Energy
Mosman Oil and Gas Limited (AIM:
MSMN) the helium, hydrogen and
hydrocarbon exploration, development and
production company, has received notification of an extension to
the EP 145 Permit by the NT Government until 21 February 2027 and a
six month suspension of the Year 3 work program conditions to 21
February 2025. At the end of this initial five year term, the
participants can apply for a further five years. EP 145 is an
exploration permit in Australia in which
Mosman holds a 25% interest. The Operator, Greenvale Energy Ltd
("Greenvale") continues to progress exploration with the next
activity being acquisition of seismic, followed by drilling in 2025.
Background to EP145
Two wells have been drilled in EP
145 that encountered hydrocarbons and were not tested for hydrogen
or helium. Most wells in the Amadeus Basin that have been tested
for helium have significant helium content.
Pursuant to the Farmin Agreement,
Greenvale earnt 75% by funding the seismic program and the drilling
of one well up to a cap of AUD $5.5 million.
A seismic data set was reprocessed
by Mosman and a large extension of the Mereenie anticline structure
was identified. Mosman published a Prospective Resource estimate
for EP-145 in October 2022 (detailed below).
|
Prospective Resources
(Bcf)
|
Low
Estimate
|
Best
Estimate
|
High
Estimate
|
|
Total
Gas
|
12
|
440
|
2,290
|
|
Helium
|
0.3
|
26.4
|
229
|
|
Hydrogen
|
0.24
|
26.4
|
275
|
As Greenvale, Mosman's farmin
partner and operator of the EP 145 project, note in its ASX
announcements, EP 145:
· Sits
within recognised play fairways for helium and hydrogen;
· Contains proven hydrocarbon discoveries;
· Lies
on-trend with the producing Mereenie Oil & Gas
Field;
· Is
close to existing pipeline infrastructure that provides opportunity
for early commercialisation.
Andy Carroll, CEO of Mosman
commented: "We are pleased the EP 145 exploration progresses with this
time extension required due to the NT elections. We look forward to
this exciting helium project progressing through its seismic and
drilling programme, along with our other helium project in the
Amadeus Basin, EP(A)155"
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
+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 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.