Business
Half Year Results
Half Year Results.
About this update from Quantum Helium Limited
[{"type":"text","content":"\n\n28 March 2025\n \nMosman Oil and Gas Limited\n(\"Mosman\" or the \"Company\")\n \nHalf Year Results for the Six Months to 31 December 2024\n\n \nMosman Oil and Gas Limited (AIM: MSMN) the helium, hydrogen and hydrocarbon exploration, development and production company, announces its Half Year results for the six months to 31 December 2024.\n \nSummary\n \nThe Company's principal focus in this period was on identifying and acquiring additional helium exploration projects in USA and the sale of Nadsoilco LLC (which holds the Stanley assets) for up to US$1.75m, with initial US$500,000 payment received. This resulted in (compared to same half year period in the 2024 Financial Year, \"H124\"):\n \n\n\n\n\n· \n\n\nRevenue: $64,542 (H124 $82,684)\n\n\n\n\n· \n\n\nGross Profit: $18,955 (H124 $(10,118))\n\n\n\n\n· \n\n\nNet loss: $2,537,131 (H124 $984,851)\n\n\n\n\n \nThe loss for the period includes impairments of $1,066,176 relating to Australian exploration assets and loss from discontinued operations of $477,047 relating to the disposal of Nadsoilco LLC.\n \nThe Company's cash and cash equivalents as at 31 December 2024 was $3,481,147. Note this does not include $700,000 contributions expected on completion of the sale of EP 145 ($400,000) and EP(A) 155 ($50,000 received, $300,000 subject to grant of the permit) in Australia (see below).\n \nAll amounts are in Australian Dollars\n \nOperational Overview\n \n\n\n\n\n· \n\n\nReaching agreement with the Ute Mountain Ute Tribe to lease and explore the Coyote Wash area in Colorado, USA where 3D seismic has been used to map large sub-salt helium prospects\n\n\n\n\n· \n\n\nAcquisition of a further 10% working interest (\"WI\") in the Vecta Helium Project in Las Animas County, Colorado, USA from Vecta Oil and Gas Ltd, increasing Mosman's total WI in the project to 20%\n\n\n\n\n· \n\n\nAcquisition of 75% interest in EP-145 from Greenvale Energy Ltd, resulting in Mosman holding a 100% interest and operational control of EP-145\n\n\n\n\n· \n\n\nContinued oil production at the legacy Cinnabar project\n\n\n\n\n \nPost-Perio...