AIM-listed Mosman Oil and Gas, advancing helium, hydrogen and hydrocarbon projects in the USA, has received approval from the Ute Mountain Ute Tribal Council for the Company's $150,000 bond, a prerequisite step to becoming an operator on Tribal land in Colorado.
Highlights
- Ute Mountain Ute Tribal Council has approved Mosman's $150,000 bond, managed by the Bureau of Indian Affairs (BIA)
- Bonding will cover all activities across the Sagebrush and Coyote Wash projects
- Once formally accepted by the BIA, Mosman will be authorised as operator, enabling the assignment of the Seeley lease and commencement of the Sagebrush well test.
Next Steps
The BIA will now complete the formal process of accepting and holding the bond. Once this is finalised, Mosman will be authorised as operator, enabling both the assignment of the Seeley lease and preparations for the extended well test at Sagebrush.
Howard McLaughlin, Mosman's Interim Chief Executive, commented: 'Securing Tribal bonding is a pivotal achievement for Mosman, clearing the final hurdle to being recognised as operator on Tribal lands. With the Council's approval now in place, we are moving quickly to complete the BIA process and unlock the full potential of both Sagebrush and Coyote Wash. This step not only allows us to progress to the Sagebrush well test, but also sets the stage for a period of sustained operational momentum and value creation for our shareholders.'
Source: Mosman Oil and Gas
