Mosman Oil and Gas Ltd (AIM:MSMN) told investors it expects key permitting approvals for its Sagebrush and Coyote Wash helium projects in Colorado by mid-August.
At Sagebrush, where Mosman holds an 82.5% working interest, the company is advancing a 3D seismic acquisition programme and planning an extended production test at the Sagebrush-1 well.
Approval for the 3D seismic survey is anticipated following completed biological and cultural surveys.
Mosman is also seeking Bureau of Indian Affairs (BIA) approval for the assignment of the Seeley lease.
Historic gas analysis at Sagebrush has recorded helium concentrations of 2.76% from the Leadville Formation. Independent energy consultant Sproule is currently preparing an independent helium resource estimate, with results expected later this month.
At Coyote Wash, where Mosman holds a 100% working interest, the final environmental assessment was completed on 17 July and is in a 30-day public comment period.
Following this, BIA approval is expected, allowing Mosman to secure a fully permitted exploration and development agreement covering six drill-ready helium prospects.
"The pending approvals for both the Sagebrush and Coyote Wash Projects represent pivotal milestones for Mosman,” interim chief executive Howard McLaughlin.
“With 3D seismic at Sagebrush ready to proceed and the IMDA (Indian Minerals Development Agreement) at Coyote Wash nearing finalisation, we are well-positioned to unlock the significant helium potential of both projects.
“These are transformative opportunities for Mosman."