Mosman Oil and Gas Limited EP 145 Update (6027X)
05 May 2021 - 5:11PM
UK Regulatory
TIDMMSMN
RNS Number : 6027X
Mosman Oil and Gas Limited
05 May 2021
5 May 2021
Mosman Oil and Gas Limited
("Mosman" or the "Company")
EP 145 Update
Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration,
development and production company, advises an update in respect to
EP 145 in the Amadeus Basin in the Northern Territory of Australia
("NT").
As previously advised, Mosman is now operating in two distinct
divisions. Dr Julie Daws, in consultation with the Technical
Director, Mr. Andy Carroll, is managing Mosman's exploration work
in Australia, specifically EP 145 airborne gravity and seismic
acquisition. Bids have now been received for the airborne gravity
data acquisition and are currently being evaluated. As there are
not currently any Covid-19 restrictions in the Northern Territory
where EP145 is located, and no ground access is required, this
survey is able to proceed in the near future once a contractor is
selected and equipment is available.
Planning for the seismic acquisition is ongoing. Mr. Andy
Carroll and Dr Julie Daws met with the Aboriginal Areas Protection
Authority ("APAA") and the Central Land Council ("CLC") in Alice
Springs to discuss the current work programme. An AAPA Sacred Site
Clearance Certificate is required to ensure no damage to sacred
sites, and this has been received.
Other requirements prior to the seismic acquisition include the
CLC requirement for a heritage survey (needed prior to ground
access), where Mosman is awaiting clarity from CLC on timing and
also the requirement for an on-ground environmental survey and
Environmental Management Plan before the crews can access the area
to acquire the seismic data. Given delays related to Covid-19,
Mosman no longer considers it feasible to obtain and process the
seismic data under the original EP 145 permit seismic schedule of
August 2021, and Mosman has applied to the NT Government for an
extension.
The subsalt play is a focus of exploration across the Amadeus
Basin, including Mosman operated EP145. Two wells in the Amadeus
Basin, Magee-1 in EP38 (Pacific O&G, 1992) and Mt Kitty-1 in
EP125 (Santos, 2014), encountered hydrocarbons with up to 9% helium
within this interval and other significant structures have been
identified including Dukas-1 in EP112 (Santos, 2019) and the Zevon
lead in EP115 (Central Petroleum) which is located close to
EP145.
In addition to the subsalt prospectivity, EP145 contains the
West Walker-1 gas discovery which lies on trend with the Mereenie
oil and gas field which produces from the Ordovician Pacoota
Sandstone unit and the Palm Valley gas field that have both been
under production for over 30 years.
Two wells have been drilled in EP145, the first West Walker -1
(1982) tested the western end of an anticlinal feature and flowed
wet gas to surface at a rate of 3.5MMscf/d from the Pacoota
Sandstone, also the main producing reservoir in the Mereenie Field.
A follow up well drilled, called Tent Hill -1 (1984), located to
the southeast on the same anticline was deemed unsuccessful,
although oil was observed weeping from cores.
As previously announced, independent resource estimates by SRK
(2016) support prospective resources of 22Bcf in the Pacoota
Sandstone play and additional unconventional prospective resources
of 1,456Bcf in the Horn Valley Siltstone (SRK report 2016, P50
gross unrisked) on EP145.
Mr. Andy Carroll and Dr Julie Daws attended the Annual
Geoscience Exploration Seminar 2021 Conference in Alice Springs on
19-20 April. The presentations included Federal and State Minister
speeches with government supporting investment in exploration and
infrastructure. Part of the State $9 million per annum pledge of
support includes a 50% grant for geophysical work (up to $100,000
per survey) and Mosman has applied for this grant.
There was also a presentation of the SEEBASE basement map for
the whole of N Northern Territory, which will help Mosman integrate
the local data obtained in EP 145 with regional geophysical
data.
Further details of timing will be provided once known.
Qualified Person's Statement
The information contained in this announcement has been reviewed
and approved by Andy Carroll, Technical Director for Mosman, who
has over 35 years of relevant experience in the oil industry. Mr.
Carroll is a member of the Society of Petroleum Engineers.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
Enquiries:
Mosman Oil & Gas Limited John NOMAD and Broker
W Barr, Executive Chairman SP Angel Corporate Finance LLP
Andy Carroll, Technical Director Stuart Gledhill / Richard Hail /
jwbarr@mosmanoilandgas.com Adam Cowl
acarroll@mosmanoilandgas.com +44 (0) 20 3470 0470
Alma PR Joint Broker
Justine James Monecor (London) Ltd trading as ETX
+44 (0) 20 3405 0205 Capital Thomas Smith
+44 (0) 7525 324431 020 7392 1432
mosman@almapr.co.uk
Updates on the Company's activities are regularly posted on its
website:
www.mosmanoilandgas.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCEAXSSEENFEEA
(END) Dow Jones Newswires
May 05, 2021 03:11 ET (07:11 GMT)
Mosman Oil And Gas (LSE:MSMN)
Historical Stock Chart
From Apr 2024 to May 2024
Mosman Oil And Gas (LSE:MSMN)
Historical Stock Chart
From May 2023 to May 2024