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Mosman Oil and Gas Limited announced on 12 June 2024 that its farmin partner, Greenvale Energy Ltd, received a $100,000 co-funding grant in Round 17 of the NTGS Geophysics and Drilling Collaborations program. This grant is allocated to fund an initial seismic line in EP145 as part of an upcoming 2D seismic program, with seismic data acquisition scheduled to commence in August. Mosman retains a 25% interest in EP145, while Greenvale holds 75% and carries Mosman for the cost of seismic acquisition.
| Date | 12 Jun 2024 |
| Time | 07:00:10 |
| Category | Miscellaneous |
| ID | 0462S |
12 June 2024
Mosman Oil and Gas Limited
("Mosman" or the "Company")
EP 145 - Helium Project Update
Greenvale Receives Grant for 2D Seismic
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
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Greenvale awarded a $100,000 co-funding grant in Round 17 of the NTGS Geophysics and Drilling Collaborations program. |
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Grant to be used to fund an initial seismic line in EP145 as part of the upcoming 2D seismic program. |
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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. |
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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 |
https://www.asx.com.au/markets/trade-our-cash-market/announcements.grv
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.
Enquiries:
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Mosman Oil & Gas Limited Andy Carroll CEO |
NOMAD and Joint Broker SP Angel Corporate Finance LLP Stuart Gledhill / Richard Hail / Adam Cowl +44 (0) 20 3470 0470 |
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Alma Justine James / Will Merison +44 (0) 20 3405 0205 +44 (0) 7525 324431
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Joint Broker CMC Markets UK Plc Douglas Crippen +44 (0) 020 3003 8632 |
Updates on the Company's activities are regularly posted on its website: www.mosmanoilandgas.com
Notes to editors
Mosman (AIM: MSMN) is an oil exploration, development, and production company with projects in the US and Australia. Mosman's strategic objectives remain consistent: to identify opportunities which will provide operating cash flow and have development upside, in conjunction with progressing exploration of existing exploration permits. The Company has several projects in the US, in addition to exploration projects in the Amadeus Basin in Central Australia.