Share Talk Ltd

Mosman Oil and Gas (LON:MSMN) CEO Andy Carroll - Progress at EP 145 project, with Govt approval

Informações:

Sinopse

Andy Carroll, CEO of Mosman Oil and Gas Ltd (LON: MSMN), spoke with Share Talk with the news that the company has received the final Government approval on the Farmin of its Australian project EP 145, in which Mosman currently holds a 100% interest.   Work now continues to secure all required approvals for the next step of exploration by Farmin partner, Greenvale Energy Ltd (ASX: GRV / 'Greenvale'). Farmin Agreement A Farmin Agreement was signed with a subsidiary of Greenvale in October 2023, where it can earn 75% interest by funding seismic acquisition and drilling a well (to a cap of AUD 5.5 million). With the approval from the Northern Territory government now in place,  the Farmin will proceed accordingly. Greenvale will earn a 75% working interest in EP 145 by: ·      Paying AUD 160,000 in cash to Mosman within 5 business days. ·   Paying for the EP 145 Permit Year 3 Work Programme, including seismic acquisition and processing. ·     Funding the Permit Year 4 Work Programme, including drilling one