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LONDON - Mosman Oil and Gas Limited (AIM:MSMN) reported oil production of 6,268.50 barrels from its Sagebrush Project in Colorado for the first half of 2025, according to a company statement released Monday.
The project, in which Mosman holds an 82.5% working interest, generated $357,307 in gross revenue and $230,160 in revenue after tax during the six-month period. Production increased from 3,048 barrels in Q1 to 3,219 barrels in Q2, while the average sales price decreased from $62.30 per barrel to $51.81 per barrel.
The figures represent 100% of the project’s production and have not been adjusted for Mosman’s ownership stake. All oil sales from the project are unhedged, the company noted.
Interim CEO Howard McLaughlin stated that while the company’s primary focus remains on advancing its helium projects at Sagebrush and Coyote Wash, the oil production "provides material revenues that assist in supporting our wider activities."
According to the company, production since June has met expectations and remained consistent with previous quarters. Mosman also reported that an independent verification report on the Sagebrush helium discovery is progressing, with plans for a 3D seismic survey at the site.
The company is additionally awaiting environmental approval for its Coyote Wash project as it works to develop its helium assets, which it describes as its "most significant growth opportunities."
Mosman Oil and Gas Limited focuses on helium, hydrogen, and hydrocarbon projects in the United States.
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