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On 15 May 2025, Mosman Oil and Gas Limited provided a drilling update for the Barclay-TH 295 106A well on the Billy Goat lease of the Vecta Project in Colorado, US, in which Mosman has a 90% interest. The well has been drilled to a depth of 583 feet and flowed gas from zones at circa 240 feet and circa 483 feet in the Entrada formation, with the latter flow calculated at 63 thousand cubic feet per day. Gas samples have been sent for analysis, and casing will be set before drilling to an expected depth of circa 800 feet into the primary target zone.
| Date | 15 May 2025 |
| Time | 08:49:06 |
| Category | Corporate updates |
| ID | 8136I |
15 May 2025
Mosman Oil and Gas Limited
("Mosman" or the "Company")
Vecta Project Billy Goat Drilling Update
Mosman Oil and Gas Limited (AIM:MSMN) the helium, hydrogen and hydrocarbon exploration, development and production company, is pleased to announce a drilling update on the first exploration well, the Billy Goat lease of the Vecta Project in Colorado, US in which Mosman has 90% interest.
Highlights
· The Barclay-TH 295 106A well on the Billy Goat lease area has been drilled a depth of 583 feet.
· The well flowed gas from a zone at circa 240 feet in the Entrada formation.
· The well also flowed gas from a zone at circa 483 feet in the Entrada formation. This flow rate was calculated to be 63 thousand cubic feet per day ("mcfd").
· Gas samples have been sent for analysis to determine composition.
Given these gas flows, casing will be set before drilling into the primary target zone, the Lyons formation, which is sealed by the overlying Blaine anhydrite. The expected depth of this well is circa 800 feet.
Schematic cross section illustrating the geology within the Vecta Project Area. (Courtesy of Blue Star Helium Ltd. North American Helium Conference, 2023)
Vecta Project
The project has five areas leased (see below). Mosman has a 20% in the other four lease areas.
The Barclay well on the Billy Goat lease area is the first well of a five well drilling campaign.
Location Map illustrating the five prospects identified by surface mapping within the Project Area. (Courtesy of Vecta Oil and Gas Ltd.)
Andy Carroll, Chief Executive Officer of Mosman, said: "The gas flows to surface from the Entrada formation are a positive indication of both gas charge and seal capacity at this shallow level.
"The primary target is the underlying Lyons formation helium reservoir which is sealed by the Blaine anhydrite which will be drilled once casing has been set. It is anticipated that drilling of this well will be completed in the next few days."
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service ('RIS'), this information is now considered to be in the public domain.
Enquiries:
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Mosman Oil & Gas Limited Andy Carroll CEO
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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 |
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 a helium, hydrogen and hydrocarbon 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. The Company has several projects in the US, in addition to exploration projects in the Amadeus Basin in Central Australia.