Mosman Oil and Gas Ltd (AIM:MSMN) told investors it has secured approval to carry out a 3D seismic acquisition at its Sagebrush Project in Colorado.
The small-cap oiler, which owns 82.5% of the project, said the Ute Mountain Ute Tribe has now greenlighted the works, which are due to begin in late September and conclude by mid-October 2025.
Seismic data will help refine drill targets and progress Sagebrush towards an extended production test, where recorded helium concentrations reached 2.76% from the Leadville Formation.
"We are delighted to have received the Ute Mountain Ute Tribe's approval for the Sagebrush 3D seismic survey, which is a vital step forward in unlocking the project's substantial helium potential,” said interim chief executive Howard McLaughlin.
“With seismic now set to proceed and the Coyote Wash approval also expected soon, Mosman is entering an exciting period of operational momentum across both key projects."
Mosman also noted that consultant Sproule is currently conducting independent verification of helium resources at Sagebrush, and those results are expected by the end of August.
It said it also anticipates approval for the Coyote Wash project in the coming weeks.