Mosman Oil and Gas wins NT approval for helium and hydrogen venture

Proactive - Interviews for investors

Mosman Oil and Gas Ltd (AIM:MSMN) CEO Andy Carroll joins Jonathan Jackson in Proactive’s Australian studio to discuss the final government approval for the farm-in into its Australian project, EP 145, where it holds a 100% interest. The company is now set to proceed with the next steps of exploration at the Northern Territory project in partnership with Greenvale Energy Ltd (ASX: GRV). A farm-in agreement was established in October 2023, allowing Greenvale to earn a 75% interest in EP 145 by funding seismic and drilling activities up to AU$5.5 million. As part of the agreement, Greenvale will pay Mosman AU$160,000 within five business days and cover the costs for the third and fourth-year work programmes at EP 145, including seismic acquisition and processing, estimated at AU$2 million, to be completed by August 2024, and drilling a well, with expenses dictated by various factors, targeted for completion by August 2025. EP 145, located in the Amadeus Basin of the NT, has previously encountered hydrocarbons in two drilled wells. The basin is known for high concentrations of helium, with significant content found in most tested wells. Prospective resource estimates for EP 145 suggest substantial quantities of gas, helium and hydrogen. The project benefits from existing pipeline infrastructure that provides an opportunity for early commercialisation and is strategically located near the producing Mereenie Oil & Gas Field and successful helium wells. #ProactiveInvestors #MosmanOilAndGas #AIM #HeliumProject, #HydrogenProject, #GreenvaleEnergy, #EP145, #FarminApproval, #SeismicAcquisition, #Drilling2025, #AmadeusBasin, #HeliumMarket, #HydrogenEnergy, #EnergyExploration, #GovernmentApproval, #NorthernTerritory, #AustraliaEnergy, #ResourceEstimates, #Hydrocarbons, #NaturalResources, #EnergySector, #OilAndGasIndustry #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews