Update on Vecta Helium Project and EP-145

Mosman Oil and Gas Limited (AIM: MSMN) the helium, hydrogen and hydrocarbon exploration, development and production company, provides and update on the Vecta Helium Project in Colorado, USA (20% WI) and EP-145 (100% WI) in the highly prospective Amadeus Basin, Central Australia.

Vecta Helium Project

Mosman has a 20% WI in the Vecta project which has five lease areas each with a low cost exploration well drilling location identified. In June 2024, the Operator advised drilling would commence in 2024, however the project Operator has not yet secured a rig, but is actively seeking a rig to drill these five wells, and is therefore not able to provide a definite schedule for drilling. Once a rig is contracted, drilling could commence within a few days.

EP-145 update

Two key approvals have been granted, the Environmental Management Plan, which was submitted on 26 November 2024 and the project has also received the Aboriginal Areas Protection Authority (AAPA) Clearance Certificate.

Andy Carroll, Chief Executive Officer of Mosman, said: "We are pleased with the progress being made on EP-145 where Mosman is the Operator. We are disappointed that drilling has not already started on the Vecta project, where we are not the Operator, as this was advised as a reasonable expectation when the project was acquired in June this year. Notwithstanding this, Vecta remains attractive due to the low cost of drilling, the high helium concentrations produced in this part of Colorado and the proximity to production infrastructure."