TIDMMSMN

RNS Number : 3667Q

Mosman Oil and Gas Limited

20 February 2023

20 February 2023

Mosman Oil and Gas Limited

("Mosman" or the "Company")

Sacred Site Clearance Certificate for EP 145

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development, and production company, confirms that it has now received a Sacred Site Clearance Certificate for EP 145, situated in the Amadeus Basin, from the Central Land Council (CLC).

The Amadeus Basin is considered one of the most prospective onshore areas in the Northern Territory of Australia for both conventional and unconventional oil and gas, as well as Helium and Hydrogen. The basin already hosts the producing Mereenie, Palm Valley and Surprise fields.

EP 145 overview

EP 145 is a 100% Mosman owned and operated permit in Northern Territory, Australia.

The permit contains a significant anticline (named West Walker), of over 30km in length. The anticline itself hosts Ordovician through to Neoproterozoic stratigraphy open at various levels. The significance of the geology is its proximity to the nearby Mereenie oil and gas field, which produces from the Ordovician Pacoota Sandstone unit.

In 2021 the Airborne Gravity and Gradiometry data acquisition for permit EP 145 was completed. The survey was a significant step in the exploration programme as it is the first time data was acquired for the whole permit.

As announced on 14 February 2022 the permit was extended by a year with the current permit, year 3, extended to 21 August 2023.

Prospective Resource

As announced on 24 October 2022, based on the Geognostics report, and data from other wells in the Amadeus basin, Mosman has estimated gross Prospective Resource volumes for hydrocarbons, helium, and hydrogen associated with the Walker Creek Anticline as a lead within the boundaries of the EP 145 permit using a deterministic approach and applying the SPE PRMS standard.

 
  Prospective          Low Estimate    Best Estimate    High Estimate 
   Resources (Bcf) 
  Total gas                 12              440             2,290 
                     ==============  ===============  =============== 
  Helium                   0.3             26.4              229 
                     ==============  ===============  =============== 
  Hydrogen                 0.24            26.4              275 
                     ==============  ===============  ===============

Source: Mosman Oil and Gas Ltd, October 2022

John W Barr, Chairman, said: "The Sacred Site Clearance Certificate from the CLC is a major forward step in securing several approvals for our seismic programme exploring the permit.

"Now that we have received the Certificate other approvals can be progressed and work will then commence."

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service ('RIS'), this information is now considered to be in the public domain.

Enquiries:

 
 Mosman Oil & Gas Limited John       NOMAD and Joint 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 OvalX 
  +44 (0) 20 3405 0205                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

Notes to editors

Mosman (AIM:MSMN) is an oil exploration, development, and production company with projects in the US and Australia. Mosman's strategic objectives remain consistent: to identify opportunities which will provide operating cash flow and have development upside, in conjunction with progressing exploration of existing exploration permits. The Company has several projects in the US. In addition to exploration projects in the Amadeus Basin in Central Australia.

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