Mosman Oil and Gas Limited EP 145 Update
06 Settembre 2023 - 8:00AM
RNS Non-Regulatory
TIDMMSMN
Mosman Oil and Gas Limited
06 September 2023
6 September 2023
Mosman Oil and Gas Limited
("Mosman" or the "Company")
EP 145 Update
Mosman Oil and Gas Limited (AIM: MSMN) the oil and gas
exploration, development, and production company, announces the
Year Three report on EP 145, its exploration block in the Amadeus
Basin in central Australia, has been lodged with the Norther
Territory Government.
The current work schedule on the permit will be acquisition of
seismic in early 2024, subject to funding and APAA and government
approvals. Drilling would be considered after the seismic
acquisition and processing.
The Prospective Resource was announced on 24 October 2022 with
"Best Estimate" per SPE PRMS of 440 Billion cubic feet ("Bcf")
Total Gas, including 26 Bcf of Helium and 26 Bcf of Hydrogen.
The Company announced on 26 June 2023 that the NT Government has
approved the extension of time to complete the Year Three work
program until 21 August 2024.
The full report will be posted on the Mosman website and an
excerpt from the Executive Summary is below:
EXECUTIVE SUMMARY
Mosman completed Native Title negotiations, acquired Sacred Site
Clearances ('SSC'), Government permits and approvals and conducted
geological fieldwork studies to complete the year 1 and 2
programs.
Following the promising results of the field work the company
made the decision to prioritize geotechnical understanding of the
prospectivity by reprocessing all vintage 2D data within the permit
and conducting a technical re-evaluation. This work was undertaken
in addition to the permit work program commitments.
The new data has highlighted additional, previously untested,
prospectivity for hydrocarbons, helium and hydrogen in the deeper
stratigraphy. The Year Three 2D seismic acquisition program has
been designed to acquire data which will test the viability of the
deeper prospectivity in EP145. The planning process has involved
detailed discussions with the CLC, landowners and AAPA regarding
acquisition techniques with significant delays occurring as a
result of the Covid pandemic. AAPA approval for the survey was
granted in December 2019 and Mosman submitted an application to the
CLC to undertake a sacred site survey in early 2020 to be ready for
seismic acquisition late 2020.
Following this unforeseen delay Mosman has restarted the
approvals process for the 2D seismic acquisition program and has
been granted a CLC sacred site survey (March 2023) and submitted a
new application to APPA as the previous certificate expired in
December 2021. Whilst on ground activities could not be carried out
Mosman has continued to undertake valuable planning and preparation
for 2D seismic acquisition, which is the primary commitment for the
Year Three work program. New technical evaluations have also been
conducted with Amadeus Basin experts, Geognostics, using permit and
regional geophysical and well data. This work has significantly
improved understanding of the hydrocarbon, helium, and hydrogen
prospectivity in EP145.
Andy Carroll, Technical Director commented : "We are pleased
with the significant technical work managed by Dr Julie Daws. We
look forward to increased drilling activity from third parties in
the Amadeus Basin with several wells scheduled to commence later in
2023."
Enquiries:
Mosman Oil & Gas Limited NOMAD and Joint Broker
Andy Carroll, Technical Director SP Angel Corporate Finance LLP
acarroll@mosmanoilandgas.com Stuart Gledhill / Richard Hail / Adam
Cowl
+44 (0) 20 3470 0470
Alma PR Joint Broker
Justine James CMC Markets UK Plc
+44 (0) 20 3405 0205 Douglas Crippen
+44 (0) 7525 324431 +44 (0) 020 3003 8632
mosman@almapr.co.uk
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 its existing
exploration permit and permit application. The Company has several
projects in the US. In addition to exploration projects in the
Amadeus Basin in Central Australia.
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