CENTRAL AUSTRALIA - Mosman Oil and Gas Limited (AIM: MSMN), an exploration, development, and production company specializing in helium, hydrogen, and hydrocarbons, has reported significant updates on its two permits in the Amadeus (BME:AMA) Basin, Central Australia. The company holds a 100% working interest in the granted permit EP-145 and the permit application EPA-155.
In the EP-145 permit area, Mosman has identified considerable potential for helium, hydrogen, and hydrocarbon resources. Estimates from October 2022 suggest a low estimate of 12 billion cubic feet (Bcf) of total gas, with helium and hydrogen prospects at 0.3 Bcf and 0.24 Bcf, respectively, and a best estimate of 440 Bcf of total gas with 26.4 Bcf each for helium and hydrogen.
The seismic acquisition for EP-145 is scheduled for early 2025. The transfer of EP-145 interest and operatorship to Mosman's subsidiary, Trident (LON:TRR) (NS:TRIE) Energy, has been registered following necessary government approvals. The "Transfer of Title" paperwork was submitted in November 2024, with approval pending from the Northern Territory Government.
Additionally, an Environmental Management Plan for the Wildhorse 2D seismic project was submitted on November 26, 2024. The company expects approval around 30 days from submission, contingent on the receipt of the AAPA heritage certificate requested in March 2024. A six-month "suspension and extension" of Permit Year Three has been requested to shift from February to August 2025, considering the time required for approvals.
For EPA-155, Mosman's subsidiary Oilco Limited is the applicant, with a farmout agreement in place with Georgina Energy PLC (LON:GEX). Under this agreement, GEX may earn a 75% interest by fulfilling certain conditions, including permit grant and technical work, leaving Mosman with a 10% interest post-drilling the first well.
Negotiations with Traditional Owners are advancing, facilitated by farm-in partner GEX. For further details, refer to Georgina Energy's regulatory news alerts.
Andy Carroll, CEO of Mosman, expressed satisfaction with the progress of these projects, which he described as critical to the company's exploration portfolio. These developments align with Mosman's strategy to capitalize on the increasing global demand for helium and to address the declining hydrocarbon supply in the Northern Territory.
The information in this article is based on a press release statement from Mosman Oil and Gas Limited.
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