Stock market today: S&P 500 hits fresh record close on stronger economic growth
COLORADO, US - Mosman Oil and Gas Limited (AIM:MSMN), an exploration and production company focused on helium, hydrogen, and hydrocarbons, has provided an update on its Vecta Project’s Billy Goat lease in Colorado. The company, which holds a 90% interest in the lease, announced that drilling has reached a depth of 583 feet on the Barclay-TH 295 106A well.
The well has encountered gas flows from two zones within the Entrada formation, at approximately 240 feet and 483 feet. The latter zone exhibited a flow rate of 63 thousand cubic feet per day. Gas samples from these flows have been dispatched for analysis to ascertain their composition.
Mosman plans to set casing before proceeding to drill towards the primary target, the Lyons formation, which lies beneath the Blaine anhydrite seal. The anticipated total depth of the well is around 800 feet.
The Billy Goat lease is part of a broader campaign involving five leased areas within the Vecta Project. While Mosman has a 90% stake in the Billy Goat lease, it holds a 20% interest in the remaining four areas.
Andy Carroll, Mosman’s CEO, expressed optimism about the gas flows from the Entrada formation, noting them as a positive sign of gas presence and sealing capacity at shallow levels. The company anticipates completing the drilling of the well within the next few days, targeting the underlying Lyons formation for helium reservoir potential.
The release of this drilling update is in line with the Market Abuse Regulation (MAR) Disclosure, ensuring that the information is now available to the public domain.
This update is based on a press release statement from Mosman Oil and Gas Limited.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.