AIM-listed Mosman Oil and Gas, the helium, hydrogen and hydrocarbon exploration, development and production company, has announced that the drilling rig has been mobilised on the Vecta project, Colorado, USA, at which Mosman has a 20% working interest ('WI').
Further to the announcement that Vecta Oil and Gas, as the Operator, had signed a drilling rig contract with Desert Eagle Drilling LLC ('DED') and several matters needed to be resolved before drilling would start, Vecta has advised the drilling rig is now on location at the Billy Goat lease for the first of the five wells to be drilled in this campaign. At Billy Goat the Company is targeting the Lyons formation with an anticipated target depth of 1200 feet.
The rig crew has a scheduled break and drilling is expected to commence once they return on 13 May.
Photo: Mosman team inspecting DED rig on 11 April 2025 drilling on nearby Red Rocks Project
Andy Carroll, Chief Executive Officer of Mosman, said: 'We are pleased to have progressed to the point of drilling rig on location and drilling commencing soon at these five wells at Vecta. Each of the prospects has been identified by Vecta based on years of experience and a thorough review of existing data, and we are pleased to be in a joint venture with Vecta.
'Each prospect has its own individual characteristics. Mosman considers the key factors to be the helium concentration and the reservoir pressure that indicates the well production potential. One of the prospects is near the Model Dome field that was produced in the 1920s and had helium concentrations of 7-11%.
'I am encouraged to see positive results at the Blue Star Helium/Helium One projects in the same area as the Vecta Project.'
Source: Mosman Oil and Gas
