LONDON – Mosman Oil and Gas Limited (AIM: MSMN), an exploration and production company specializing in helium, hydrogen, and hydrocarbons, has provided updates on two of its key projects: the Vecta Helium Project in Colorado, USA, and EP-145 in Amadeus (BME:) Basin, Central Australia.

For the Vecta Helium Project, in which Mosman has a 20% working interest (WI), progress has been slower than expected. The project operator previously indicated that drilling would begin in 2024. However, they have yet to acquire a drilling rig. The search for a rig is ongoing, and drilling is expected to begin shortly after a rig is contracted, with the potential to begin within days of securing the necessary equipment.

In contrast, the EP-145 project, in which Mosman has 100% WI and acts as operator, has seen significant progress. The project recently received two critical approvals: the Environmental Management Plan, which was submitted on November 26, 2024, and the Aboriginal Areas Protection Authority (AAPA) Clearance Certificate. These developments mark significant progress in the project’s timeline.

Andy Carroll, CEO of Mosman, expressed satisfaction with progress on EP-145 but expressed disappointment about the delayed drilling of the Vecta Helium Project. Despite this setback, Carroll emphasized the appeal of the Vecta project, citing low drilling costs, high helium concentrations in the region, and proximity to existing production infrastructure.

Mosman’s notice is considered inside information as defined in the Market Abuse Regulations (MAR), and with its release to the public, it is now in the public domain.

The information in this article is based on a press release statement from Mosman Oil and Gas Limited.

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