Exploration Update - Australia
Mosman updates exploration progress in Amadeus Basin with seismic acquisition planned for early 2025.
- EP-145 Total Gas Prospective Resources (Best Estimate) 440 Bcf
- EP-145 Helium Prospective Resources (Best Estimate) 26.4 Bcf
- EP-145 Hydrogen Prospective Resources (Best Estimate) 26.4 Bcf
- Georgina Energy farmout interest in EPA-155 75%
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Mosman Oil and Gas Limited (AIM: MSMN) the helium, hydrogen and hydrocarbon exploration, development and production company, holds 100% working interest in one granted permit, EP-145 and one permit application, EPA-155 in the highly prospective Amadeus Basin, Central Australia.
EP-145 update
| · | Significant helium, hydrogen and hydrocarbon potential has been identified in this permit area. | |
| Prospective Resources (Bcf) | Low Estimate | Best Estimate |
| Total Gas of | 12 | 440 |
| Helium | 0.3 | 26.4 |
| Hydrogen | 0.24 | 26.4 |
| Source: Mosman Oil and Gas Ltd, October 2022 | ||
| · | Seismic acquisition is scheduled for early 2025. Following receipt of necessary government approvals the agreement to the transfer of the EP-145 interest and operatorship back to Mosman's wholly owned subsidiary, Trident Energy, has been registered and stamped. | |
| · | "Transfer of Title" paperwork was submitted to the Northern Territory Government in November 2024 and is awaiting approval. | |
| · | An Environmental Management Plan for the Wildhorse 2D seismic project was submitted on 26 November 2024 and Mosman anticipates approval approximately 30 days from submission, subject to receipt of the AAPA heritage certificate which was requested in March 2024. | |
| · | Given the time it takes to get the approvals listed above, a six month "suspension and extension" of Permit Year Three has been requested to extend from February to August 2025. | |
| EPA-155 update | ||
| · | Mosman's wholly owned subsidiary company Oilco Limited ("Oilco") is the Applicant for the exploration permit 155. | |
| · | Mosman has a farmout agreement with Georgina Energy PLC (GEX) whereby GEX may earn a 75% interest in EPA-155 by completing all the conditions of that agreement, including grant of the permit and technical work. This means Mosman is carried through the near term with an option to subsequently be carried through drilling the first well and retain 10% interest. | |
| · | Traditional Owners have agreed to progress negotiations which are being handled by the farm-in partner Georgina Energy PLC (GEX). | |
| · | For further information please refer to www.georginaenergy.com/investors/regulatory-news-alerts/ | |
Andy Carroll, Chief Executive Officer of Mosman, said: "We are pleased with the progress being made across both these projects in Australia, which are cornerstones of our exploration portfolio. These developments demonstrate progress in our strategy to deliver on our exploration projects to meet both growing global demand for helium and to replace declining hydrocarbon supply in the Northern Territory."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.