Business
Replacement: US Helium Projects Update
Replacement: US Helium Projects Update.
About this update from Quantum Helium Limited
[{"type":"text","content":"\n\n \n\n21 March 2025\n \nThe following amendment has been made to the 'US Helium Projects Update' announcement released on 21 March 2025 at 08:27 under RNS No 6659B.\n \nSagebrush Project (85.2% WI) has been amended to: Sagebrush Project (82.5% WI)\n \nAll other details remain unchanged.\n \nThe full amended text is shown below.\n \n \nMosman Oil and Gas Limited\n(\"Mosman\" or the \"Company\")\n \nUS Helium Projects Update\n \nMosman Oil and Gas Limited (AIM:MSMN) the helium, hydrogen and hydrocarbon exploration, development and production company, announces updates on the first revenue from the Sagebrush project, schedule update on the Vecta project and ongoing technical evaluation of the Coyote Wash Project area, Colorado, USA.\n \nSagebrush Project (82.5% WI)\n \nMosman has received the first revenue from oil production at the Sagebrush project, operated by Mosman, since the completion of the acquisition of the project. The January 2025 gross revenue was US$53,974. Monthly sales volumes can be different from production as sales depend on the number of road tankers that pick-up oil from storage tanks, with each tanker taking about 200 barrels of oil. In January 2025 there were four loads sold, and in February 2025 there were six loads sold.\n \nMosman has received results of reprocessing of the Sagebrush 2D seismic swath which covers the project area. The reprocessing is providing improvements in clarity and frequency and will be useful in analysing well performance and developing new drilling prospects.\n \nVecta Project (20% WI)\n \nMosman previously announced that Vecta Oil and Gas Limited (\"Vecta\"), 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. Mosman has been advised that whilst DED personnel have been drilling helium production wells under Colorado State oil and gas regulations, different regulations govern water wells, and it has become apparent that given the current schedule of periodic tests the qualification process cannot be completed until after mid-April. Mosman continues to seek more clarity on the drilling schedule from the Operator in order to keep the market informed, and continues to express our preference to...