Mosman Oil and Gas Ltd (AIM: MSMN) announced that its partner in an Australian helium project, Greenvale Energy, has advanced the permitting and approvals for a planned seismic program.
Greenvale, which is acquiring a stake in the EP 145 helium project, has submitted the 2D Seismic Environmental Management Plan to the Department of Environment, Parks and Water Security (DEPWS).
All necessary long-lead items for the seismic program have been ordered, with data acquisition expected to begin in August.
The data collected will be vital for targeting ‘ultra-high-grade helium, hydrogen, and hydrocarbon resources.’
EP 145 is estimated to contain a prospective resource of 440 billion cubic feet (Bcf) of total gas, including 26.4 Bcf of helium and 26.4 Bcf of hydrogen.
“It is encouraging to see Greenvale advance the permitting and approvals process for this 2D seismic program for EP 145,” said chief executive Andy Carroll. “Seismic is a preliminary step before drilling to test the significant potential of this exciting helium and hydrogen asset, and we look forward to providing updates as Greenvale progresses.”
Greenvale’s chief executive Mark Turner added, “We are pleased that the permitting and approvals process for this 2D seismic program for EP 145 is progressing smoothly. The start of this survey is a key milestone, allowing us to finalize drilling locations to test the significant potential of this exciting asset.”
Mosman holds a 25% stake in EP 145, while Greenvale is earning a 75% stake.
