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Mosman Oil and Gas Limited announced on 04 June 2025 that its drilling crew is now on location at "The Bard" lease area, the second well in its five-well drilling campaign at the Vecta Project in Colorado, US. Mosman holds a 20% working interest in "The Bard" lease area, and the drilling rig is ready to mobilise to the location once weather conditions allow.
| Date | 4 Jun 2025 |
| Time | 07:54:05 |
| Category | Corporate updates |
| ID | 3756L |
4 June 2025
Mosman Oil and Gas Limited
("Mosman" or the "Company")
Vecta Project Drilling Update
Drilling crew on location at the second well, "The Bard"
Mosman Oil and Gas Limited (AIM:MSMN) the helium, hydrogen and hydrocarbon exploration, development and production company, announces an update on the second well in the drilling campaign at the Vecta Project, Colorado, US.
Highlights
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The drilling crew has returned from their break and are now on location at "The Bard" lease area, the second location in the five-well drilling campaign. |
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The drilling rig is in the area and is ready to move onto location as soon as weather permits mobilisation. |
Vecta Project
The Vecta Project is located mainly in Las Animas County, close to the Red Rocks helium producing field and Blue Star Helium's Galactica development project. Helium concentrations of up to 11% have been encountered in offset wells and fields in the area, with the closest well, Texaco Cynthia True-1, flowing 8.8% helium from the upper Lyons sandstone.
This is the second of five wells planned in this drilling campaign testing five individual structural closures. The first well being drilled on the Billy Goat lease area to the east. Mosman has a 20% working interest in "The Bard" lease area.
Location Map illustrating the five prospects identified by surface mapping within the Project Area.
(Source: Vecta Oil and Gas Ltd.)
Andy Carroll, Chief Executive Officer of Mosman, said: "The drilling at 'The Bard' lease area of the Vecta project is an exciting opportunity to test a second helium target in an area of proven helium development and production.
"Each well location has been carefully selected by the very experienced team at Vecta with special acknowledgment of the work by the late Matt Goolsby.
"I believe each of these wells has an excellent chance of discovering helium. The low-cost drilling of these wells enables data to be obtained quickly and at very reasonable cost."
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.