Mosman Oil and Gas Ltd (AIM:MSMN) has updated investors on its ongoing corporate review, undertaken because the company believes its asset’s value isn’t being properly reflected in its share price.
The company, which has producing assets in the United States and exploration projects in Australia, in a statement, said talks are ongoing with various parties interested in its assets, and, any resulting commercial proposals will be assessed by the board.
At the same time, Mosman said it is currently in talks with a Chinese company for a potential heads of agreement for potential future cooperation in offtake, financing, and equipment supply.
It noted that it additionally met with government and other parties at the recent annual resources conference in Alice Springs, to advance its Central Australia assets – where the focus is on natural gas, helium, and hydrogen.
Mosman has also strengthened its team in London engaging David Minchin, formerly Helium One chief executive and an experienced helium exploration geologist, who will help the company review and develop proposals for the board's consideration.
It noted, meanwhile, a recent announcement by ASX-listed Central Petroleum Limited regarding a joint venture (JV) targeting helium and setting estimates for prospective resources in permits, which are in the Amadeus Basin. This area is adjacent to Mosman interests.
That JV, plans to drill three wells in the next 12 months targeting helium, hydrogen, and natural gas.
Mosman investors will likely look on with a keen eye as the third-party exploration programme advances.