EP 145 - Helium Project Update

Mosman Oil and Gas Limited (AIM: MSMN) the hydrocarbon, helium and hydrogen exploration, development and production company, notes the following update from Greenvale Energy Ltd (ASX:GRV), its farmin partner and Operator of the EP 145 project in the Amadeus Basin in Central Australia.

Highlights

• Greenvale awarded a $100,000 co-funding grant in Round 17 of the NTGS Geophysics and Drilling Collaborations program.
• Grant to be used to fund an initial seismic line in EP145 as part of the upcoming 2D seismic program.
• Seismic data acquisition to commence in August, providing a key dataset for Greenvale to target ultra-high-grade helium, hydrogen and hydrocarbon resources in the highly prospective Amadeus Basin.
• Exciting opportunity for Greenvale to become a supplier to the rapidly growing helium market, which is experiencing severe supply shortages and strong demand growth and pricing

Mosman retains 25% of EP145 with 75% farmed out to Greenvale. The grant to Greenvale, while positive for the project, does not impact the economics for Mosman directly with Greenvale carrying Mosman for the cost of seismic acquisition in accordance with the terms of the farm in agreement.