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NEW YORK - Mosman Oil and Gas Limited (AIM:MSMN), an exploration and production company focused on helium, hydrogen, and hydrocarbons, has reported receiving its first revenue from the Sagebrush project in which it holds an 82.5% working interest (WI). The company announced that the gross revenue for January 2025 was US$53,974, with sales volumes varying due to the number of road tanker pickups from storage tanks.
The company also provided an update on the Vecta project, where it holds a 20% WI. Mosman informed that drilling operations by Vecta Oil and Gas Limited and Desert Eagle Drilling LLC have been delayed due to regulatory hurdles. The qualification process for water well drilling, which differs from oil and gas regulations, is not expected to be completed until after mid-April 2025.
Additionally, Mosman is conducting a technical evaluation of the Coyote Wash Project in Colorado, USA, where it has a 100% WI. The project covers 4,320 acres with 3D seismic data over the entire area. Reprocessing of the 3D seismic is underway to better define drilling opportunities, with six large prospects identified at multiple geological levels.
Andy Carroll, CEO of Mosman, expressed satisfaction with the progress at Coyote Wash and Sagebrush and highlighted the significance of the monthly revenues from Sagebrush. He also noted the positive results from nearby helium projects and mentioned that Mosman’s management will attend the 2025 North American Helium & Hydrogen Conference in Denver, where they plan to engage with industry participants and conduct site visits.
The company’s announcement also included a Market Abuse Regulation (MAR) Disclosure, indicating that the information released is considered inside information and is now in the public domain.
This news article is based on a press release statement from Mosman Oil and Gas Limited.
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