Quantum Helium Limited

Management Reports • Dec 13, 2024

National Storage Mechanism | Additional information

RNS Number : 0459Q

Mosman Oil and Gas Limited

13 December 2024

13 December 2024

Mosman Oil and Gas Limited

("Mosman" or the "Company")

Exploration Update, Amadeus Basin Central Australia

Mosman Oil and Gas Limited (AIM: MSMN) the helium, hydrogen and hydrocarbon exploration, development and production company, holds 100% working interest in one granted permit, EP-145 and one permit application, EPA-155 in the highly prospective Amadeus Basin, Central Australia.

EP-145 update

·	Significant helium, hydrogen and hydrocarbon potential has been identified in this permit area.

Prospective Resources (Bcf)	Low Estimate	Best Estimate
Total Gas of	12	440
Helium	0.3	26.4
Hydrogen	0.24	26.4

Source: Mosman Oil and Gas Ltd, October 2022

·	Seismic acquisition is scheduled for early 2025. Following receipt of necessary government approvals the agreement to the transfer of the EP-145 interest and operatorship back to Mosman's wholly owned subsidiary, Trident Energy, has been registered and stamped.
·	"Transfer of Title" paperwork was submitted to the Northern Territory Government in November 2024 and is awaiting approval.
·	An Environmental Management Plan for the Wildhorse 2D seismic project was submitted on 26 November 2024 and Mosman anticipates approval approximately 30 days from submission, subject to receipt of the AAPA heritage certificate which was requested in March 2024.
·	Given the time it takes to get the approvals listed above, a six month "suspension and extension" of Permit Year Three has been requested to extend from February to August 2025.

EPA-155 update

·	Mosman's wholly owned subsidiary company Oilco Limited ("Oilco") is the Applicant for the exploration permit 155.
·	Mosman has a farmout agreement with Georgina Energy PLC (GEX) whereby GEX may earn a 75% interest in EPA-155 by completing all the conditions of that agreement, including grant of the permit and technical work. This means Mosman is carried through the near term with an option to subsequently be carried through drilling the first well and retain 10% interest.
·	Traditional Owners have agreed to progress negotiations which are being handled by the farm-in partner Georgina Energy PLC (GEX).
·	For further information please refer to www.georginaenergy.com/investors/regulatory-news-alerts/

Andy Carroll, Chief Executive Officer of Mosman, said: " We are pleased with the progress being made across both these projects in Australia, which are cornerstones of our exploration portfolio. These developments demonstrate progress in our strategy to deliver on our exploration projects to meet both growing global demand for helium and to replace declining hydrocarbon supply in the Northern Territory."

Enquiries:

Mosman Oil & Gas Limited Andy Carroll CEO [email protected]	NOMAD and Joint Broker SP Angel Corporate Finance LLP Stuart Gledhill / Richard Hail / Adam Cowl +44 (0) 20 3470 0470
Alma Justine James / Will Merison +44 (0) 20 3405 0205 +44 (0) 7525 324431 [email protected]	Joint Broker CMC Markets UK Plc Douglas Crippen +44 (0) 020 3003 8632

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDZZMMZLFLGDZG