Vecta Helium Project Update
Drilling rig mobilised on Vecta helium project in Colorado; drilling to commence 13 May on first of five wells.
- Mosman working interest in Vecta project 20%
- Number of wells planned in campaign 5
- Target depth at Billy Goat lease 1200 feet
- Historical helium concentration at Model Dome field 7-11%
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Replacement: The following amendment has been made to the 'Vecta Helium Project Update' announcement released on 6 May 2025 at 10:11 under RNS No 4914H.
The photograph of the Mosman team inspecting the rig has been removed at the request of the drilling operator.
All other details remain unchanged. The full amended text is shown below.
Mosman Oil and Gas Limited
("Mosman" or the "Company")
Vecta Helium Project Update
Mosman Oil and Gas Limited (AIM:MSMN) the helium, hydrogen and hydrocarbon exploration, development and production company, announces the drilling rig has been mobilised on the Vecta project, Colorado, USA, at which Mosman has a 20% working interest ('WI').
Further to the announcement that Vecta Oil and Gas Limited ("Vecta"), as the Operator, had signed a drilling rig contract with Desert Eagle Drilling LLC ("DED") and several matters needed to be resolved before drilling would start, Vecta has advised the drilling rig is now on location at the Billy Goat lease for the first of the five wells to be drilled in this campaign. At Billy Goat the Company is targeting the Lyons formation with an anticipated target depth of 1200 feet.
The rig crew has a scheduled break and drilling is expected to commence once they return on 13 May.
Andy Carroll, Chief Executive Officer of Mosman, said: "We are pleased to have progressed to the point of drilling rig on location and drilling commencing soon at these five wells at Vecta. Each of the prospects has been identified by Vecta based on years of experience and a thorough review of existing data, and we are pleased to be in a joint venture with Vecta.
"Each prospect has its own individual characteristics. Mosman considers the key factors to be the helium concentration and the reservoir pressure that indicates the well production potential. One of the prospects is near the Model Dome field that was produced in the 1920s and had helium concentrations of 7-11%.
"I am encouraged to see positive results at the Blue Star Helium/Helium One projects in the same area as the Vecta Project."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.