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COLORADO - Mosman Oil and Gas Limited (AIM:MSMN) has completed drilling of the Richardson well at "The Bard" lease area of its Vecta Project in Colorado, the company stated Monday in a press release.
The well reached a total depth of 1,007 feet, with the Lyons Formation encountered at approximately 1,000 feet, which was 460 feet deeper than anticipated. According to the company, the well produced water from the Lyons Formation, with only trace amounts of helium gas detected during the drilling process.
Drilling crews are now preparing to relocate the rig to the "Garcia" lease to commence drilling of the Green TH 345823C well, which represents the third well in Mosman’s five-well Vecta drilling program.
Andy Carroll, Chief Executive Officer of Mosman, commented that despite the limited helium findings, the trace amounts detected "supports the Vecta exploration model" and does not impact the remaining three undrilled leases, each containing a standalone structure.
The Richardson well is part of Mosman’s broader exploration activities in Colorado, where the company focuses on helium, hydrogen and hydrocarbon exploration, development and production.
The drilling program will continue with the next well on the Garcia lease, followed by two additional wells to complete the five-well campaign at the Vecta Project.
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