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NEW YORK - Mosman Oil and Gas Limited (AIM:MSMN), an exploration and production company specializing in helium, hydrogen, and hydrocarbons, has disclosed its first revenue from the Sagebrush project, following the acquisition’s completion. The company, which operates the project, reported January 2025 gross revenue of US$53,974. Sales volumes fluctuate monthly due to varying numbers of tanker pickups, with January seeing four loads sold compared to six in February.
Additionally, Mosman has enhanced the Sagebrush project’s 2D seismic data clarity and frequency, aiding in well performance analysis and future drilling prospect development.
The company also provided an update on the Vecta project, in which it holds a 20% working interest (WI). Mosman is awaiting further clarity on the drilling schedule from Vecta’s operator, as regulatory differences have delayed the process for water well drilling, with completion not expected until after mid-April. The company emphasized its desire for drilling to commence as soon as possible.
For the 100% WI Coyote Wash Project in Colorado, Mosman has completed a thorough evaluation and initiated reprocessing of 3D seismic data to better define drilling opportunities. Six major prospects have been identified, targeting the Ismay, Leadville, and McCracken Formation for both helium and oil.
CEO Andy Carroll expressed satisfaction with the progress at both Coyote Wash and Sagebrush, highlighting the unique position of Mosman in generating monthly revenues from the latter, a rarity among helium exploration firms. Carroll also mentioned the company’s anticipation for the 2025 North American Helium & Hydrogen Conference in Denver on April 9-10, where the team plans to engage with industry peers and conduct site visits.
This update is based on a press release statement from Mosman Oil and Gas Limited.
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