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LONDON - Mosman Oil and Gas Limited (AIM:MSMN), an exploration and production company focused on helium, hydrogen, and hydrocarbons, has updated stakeholders on the progress of its Vecta Project in Colorado, US. The company reports that drilling operations have resumed with the crew on location at "The Bard," the second of a five-well drilling campaign in Las Animas County.
"The Bard" is situated near established helium production fields, including the Red Rocks helium field and Blue Star Helium’s Galactica project. Notably, helium concentrations as high as 11% have been recorded in nearby wells. Mosman holds a 20% working interest in this lease area, which is part of a strategic effort to uncover new helium targets.
The Vecta Project’s drilling campaign is testing five individual structural closures, with the first well located in the Billy Goat lease area. Mosman’s CEO, Andy Carroll, expressed optimism about the potential for helium discovery at each well site, highlighting the low-cost drilling strategy that allows for rapid and cost-effective data acquisition.
The company’s announcement also pays tribute to the late Matt Goolsby, whose work has been instrumental in the project’s development. As operations continue, the drilling rig is prepared to mobilize to the site, weather permitting.
Mosman’s announcement is considered inside information under the Market Abuse Regulations (MAR), and with its release to the public, it is now in the public domain. This update is based on a press release statement from Mosman Oil and Gas Limited.
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