14 May 2025
Mosman
Oil and Gas Limited
("Mosman"
or the "Company")
Vecta Project Drilling
Commenced
Mosman Oil and Gas Limited
(AIM:MSMN) the helium, hydrogen and
hydrocarbon exploration, development and production company,
is pleased to announce the spudding of the first exploration well
of a five well programme in the Vecta Project, Las Animas County,
Colorado, US.
Highlights
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Drilling has commenced and surface
casing set.
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The Barclay-TH 295 106A well will
test the Lyons Sandstone formation at the Billy Goat lease area
("AMI"), with a planned total depth ("TD") of circa 800ft in the
Lyons Sandstone.
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Drilling will continue to determine
top of Lyons formation, and then to TD.
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Gas will be tested to determine
concentrations of gases, including helium.
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Wireline logging will be conducted
at TD to determine the reservoir and gas/fluid
properties.
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Vecta Project (90% interest in Billy
Goat, 20% working interest in other areas)
The Vecta Project is operated by
Vecta and is located 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.
A total of five wells are planned to
be drilled in this drilling campaign, testing five individual
structural closures.
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 drilling of this Billy
Goat well is exciting given the excellent lease position in a
proven area of helium development and production
"Each well location has been
carefully selected by the very experienced team at Vecta and we
believe each well has an excellent chance of discovering helium.
The low-cost drilling of these wells enables data to be obtained at
very reasonable cost.
"This location has good access to
infrastructure including roads, pipelines and the Ladder Creek
helium plant located at Cheyenne Wells, about 100 miles north of
Billy Goat."
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
acarroll@mosmanoilandgas.com
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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
mosman@almastrategic.com
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Joint Broker
CMC Markets UK Plc
Douglas Crippen
+44 (0) 020 3003 8632
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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.
