Mosman Oil and Gas Ltd (AIM:MSMN) told investors it produced 6,268 barrels of oil (gross) at the Sagebrush project in Colorado, in the first six months of its financial year.
"We are pleased with production so far in 2025, and since June the production numbers have been meeting our expectations and are in line with prior quarters," said interim chief executive Howard McLaughlin.
It generated $357,307 in gross revenue from oil sales over the six-month period, with an average sales price of $62.30 per barrel in the first quarter and $51.81 in the second.
Oil production from Sagebrush provides material revenues that assist in supporting Mosman's wider portfolio of assets, the company noted, but it is not the main priority.
“Our core focus remains firmly on advancing Mosman's flagship helium projects at Sagebrush and Coyote Wash, which represent the most significant growth opportunities for the company," McLaughlin added.
"The independent verification report from Sproule on the Sagebrush helium discovery is advancing well, and we are looking forward to getting the 3D seismic survey underway at Sagebrush. We also expect to hear news regarding the Coyote Wash environmental approval."
Mosman's interim boss said that the company has "an exciting few months ahead" as the team looks to unlock 'significant helium potential'.
The AIM-quoted firm holds an 82.5% interest in Sagebrush.