Mosman Oil and Gas Ltd (AIM:MSMN) has taken a 'pivotal step' designed to 'validate and de-risk' its Sagebrush helium project in Colorado.
The group has hired Sproule, an independent energy consultancy, to provide an external estimate of the project's helium resources.
This follows earlier internal assessments, which put Sagebrush’s net helium contingent resources at 205 million cubic feet and net hydrocarbon contingent resources at 1.68 billion cubic feet.
Sproule’s review will analyse geological and engineering data, including historic gas samples from the main well at Sagebrush, which showed helium concentrations of nearly 3% alongside methane and other gases.
Mosman expects the independent assessment to refine its resource figures and help underpin future plans for commercial development.
Alongside the independent review, Mosman is preparing to carry out a 3D seismic survey across about 16 square miles of the Sagebrush project area.
Seismic surveys help companies map underground rock layers and pinpoint where to drill next, making them a crucial step in reducing risk and improving the chances of success when drilling for gas or helium.
The company is also advancing preparations for an extended production test of its Sagebrush-1 well later this year.
This test, running for up to six weeks, will give the team a clearer idea of how much helium and associated gas can be produced from the well over time, a key consideration for commercial viability.
Mosman said these planned activities will be funded from existing cash resources.
Interim chief executive Howard Mclaughlin said: "Engaging Sproule, acquiring the 3D seismic survey, and advancing the extended production test at Sagebrush-1 are pivotal steps in our helium strategy.
"These initiatives are designed to validate our resource estimates, de-risk the project, and provide the data needed to advance towards commercialisation.
"We are committed to executing these plans efficiently and safely, with the goal of unlocking the full potential of the Sagebrush project."