Mosman Oil and Gas Limited provided a project update on its Australian project EP 145 and confirms it has committed to long lead items for the seismic acquisition. In Australia, the recent farmin agreement on EP145 with Greenvale Gold Pty Ltd. remains subject to completion, pending ministerial approval. The recent Amendment Deed requires Mosman to fund costs until completion, when Greenvale will re-imburse approved costs.

Mosman has now committed to start acquisition of long lead items for seismic acquisition. This decision was made given the high confidence in the completion of the farmin agreement, and with GRV confirming these costs will be re-imbursed upon completion. The seismic acquisition programme is planned for the first half of 2024, with results due and a well location announced before end of Permit Year 3 in August 2024, followed by drilling in the following Permit Year.

Mosman has published a Prospective Resources estimate of 440 total gas including 26 bcf of helium and 26 bcf hydrogen. Greenvale also noted that: the Amadeus Basin has some of the highest concentrations of helium globally, as well as confirmed hydrogen accumulations; EP145 sits within recognised play fairways for helium and hydrogen and contains proven hydrocarbon discoveries;  it lies on-trend with the producing Merenie Oil & Gas Field; has successful helium wells located along the margins of the Amadeus Basin at Mt Kitty-1 and Magee-1; and an existing pipeline infrastructure to Australian East Coast provides opportunity for early commercialisation.