Mosman Secures Approval for Sagebrush 3D Seismic Survey
Why we think this is neutral
This RNS announcement provides an update on the approval for a 3D seismic survey at Mosman's Sagebrush Project, which is a positive step forward. However, it does not contain any of the mandatory news types that would warrant a stronger sentiment score.
Key Points
- Ute Mountain Ute Tribe has approved the 3D seismic acquisition programme at Mosman's Sagebrush Project in Colorado, USA
- The 3D seismic survey is a key component in refining drill targets and advancing towards an extended production test at the previously drilled Sagebrush-1 well
- Sproule, an independent energy consulting firm, is well advanced in verifying the helium resources at Sagebrush, with results expected by the end of August 2025
- Mosman also anticipates news on the approval for the Coyote Wash Project in the coming weeks
Summary
Mosman Oil and Gas Limited (AIM: MSMN) has received approval from the Ute Mountain Ute Tribe to conduct a 3D seismic acquisition programme at its Sagebrush Project in Colorado, USA, where the company holds an 82.5% working interest. This approval marks a significant milestone in advancing the Sagebrush Project, enabling Mosman to move forward with preparations for the seismic survey scheduled to commence in late September 2025. The results of the survey will help refine drill targets and support the company's commercialisation strategy for the project, which has previously recorded historic helium concentrations of 2.76% from the Leadville Formation.