Mosman Oil and Gas Ltd (AIM:MSMN) told investors it has secured a six-month suspension and extension for its Exploration Permit EP-145, in the Amadeus Basin, Northern Territory, Australia.
The extension pushes the end date of the permit’s current phase to August 2025, and moves the overall exploration term out to
Additionally, the overall exploration term has been extended to August 2027.
This asset is currently the subject of a sale agreement with Echelon Resources, an ASX-listed explorer.
Mosman noted that the new extension keeps the permit in good standing as the transaction progresses, to be completed in the coming months.
"We are pleased that the extension has been awarded at EP-145, further smoothing the sale process, as the team focuses on developing its helium projects in the US,” chief executive Andy Carroll said in a statement.