Mosman Oil and Gas Limited (AIM: MSMN) the helium, hydrogen and hydrocarbon exploration, development and production company, advises that a six month suspension and extension of EP-145 permit year three has been granted by the Northern Territory Minister for Mining and Energy.
As announced on 14 January 2025, the permit is subject to a sale agreement with ASX listed Echelon Resources Limited, and this keeps the permit in good standing, as the Company works towards completion, which is expected to be finalised in the coming months.
Permit EP-145 located in the Amadeus Basin is currently in year three of a five year exploration term. A six month extension and corresponding suspension of the year three work program to 21 August 2025 has been approved. The term of the exploration permit has been extended for a period of six months to 21 August 2027 with an exploration well commitment in permit year four.
Andy Carroll, Chief Executive Officer of Mosman, said: "We are pleased that that the extension has been awarded at EP-145, further smoothing the sale process, as the team focuses on developing its helium projects in the US."
