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Mosman Oil & Gas Ltd - helium, hydrogen, and hydrocarbon exploration company - Says it has negotiated an increase in its interest in the Billy Goat Area of Mutual Interest lease area for the Vecta project, to 90% from 20%, in return for funding the upcoming drilling on the lease in its entirety. Mosman estimates the cost of the well to be less than $200,000, to be funded from existing cash reserves. The rig is on location, with the drilling of the first exploration well of a five well programme expected to start in the next 24 hours in Colorado. On Thursday, the firm announced the first estimate of helium and hydrocarbon volumes at the Sagebrush project, also in Colorado. The estimate is of 205 million cubic feet of helium and 1.7 billion cubic feet of hydrocarbon gases, citing a report from Four Corners Helium LLC from last week Monday. Chief Executive Andy Carroll says: ‘This maiden contingent resource estimates for helium and hydrocarbon gases is a significant milestone, indicating the existing well could be used to fast-track helium production in stages.’ Current stock price: 0.069 pence, up 14% on Tuesday afternoon in London 12-month change: up sharply from 0.02p each on May 13, 2024 Copyright 2025 Alliance News Ltd. All Rights Reserved.
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