Mosman Oil and Gas, the hydrocarbon, helium and hydrogen exploration, development and production company, notes the update from Greenvale Energy, its farmin partner and Operator of the EP 145 project in the Amadeus Basin in Central Australia.
Greenvale updated that: 'approvals are progressing and on track for seismic acquisition to commence in August, allowing it to advance its high-potential helium project in central Australia'.
Highlights
- EP 145 2D Seismic Environmental Management Plan submitted to DEPWS (Department of Environment, Parks and Water Security).
- All remaining long-lead items ordered for the seismic program.
- Seismic data acquisition expected to commence in August, providing a key dataset for Greenvale to target ultra-high-grade helium, hydrogen and hydrocarbon resources within the highly prospective Amadeus Basin.
- EP145 represents an exciting opportunity for Greenvale to become a supplier to the rapidly growing helium market, which is experiencing severe supply shortages and strong demand growth and pricing.
- EP145 contains a reported Prospective Resource Estimate of 440 Billion cubic feet (Bcf) of Total Gas including 26.4Bcf of Helium and 26.4Bcf of Hydrogen.
Greenvale's CEO, Mark Turner, commented: 'We are pleased that the permitting and approvals process for this 2D seismic program for EP145 is progressing smoothly, with the start of this survey representing a key milestone to allow us to finalise drilling locations to test the significant potential of this exciting asset.
'Ongoing work programs by Greenvale and other operators in the Amadeus Basin will help us to fully evaluate the significant helium and hydrogen potential of this region and advance this exciting project for the benefit of our shareholders.'
The full announcement can be found at: https://www.asx.com.au/markets/company/GRV
Mosman retains 25% of EP145 with 75% farmed out to Greenvale.
Andy Carroll, CEO of Mosman commented: 'It is encouraging to see Greenvale has progressed the permitting and approvals process for this 2D seismic program for EP 145. Seismic is a 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.'
Source: Mosman Oil and Gas
