Mosman Oil and Gas Ltd (AIM:MSMN) has updated investors on its operated assets, and, highlighted that it may have more news about the Vecta project soon.
"We understand shareholders are keen to hear updates on the Vecta project and we look forward to providing information when advised by the operator,” chief executive Andy Carrol said in a statement.
Mosman has a 20% stake in Vecta, where five wells are planned, and it said a meeting scheduled with project operator Vecta Oil & Gas Ltd next week.
Meanwhile, at Mosman’s operated projects, it continues to advance the sale of its Australian assets, whilst identifying new drilling opportunities in its Coyote Wash lease in Colorado.
At Coyote Wash (100% owned) and Sagebrush (82.5% owned) technical work has identified drilling targets within the Ismay and Leadville formations. A recent study highlighted a dual target test for oil and helium, based on analysis of historical well data.
The company continues to progress the sale of its Australian assets. The EP-145 sale to Echelon Resources Limited is pending government approval, once greenlit Mosman will receive AU$400,000.
In the EPA-155 project, a sale contract has been finalized with Westmarket Oil & Gas Pty Ltd, with AU$50,000 already paid and AU$300,000 due upon permit grant.
Andy Carroll commented: "We are pleased to report progress on projects where Mosman operates.
“I am excited by the early identification of attractive prospects in the Sagebrush and Coyote Wash projects with existing seismic, road access, and production infrastructure.”