Mosman Oil and Gas Ltd (AIM:MSMN) provided an operational update on its US helium projects, confirming progress at its Sagebrush and Coyote Wash assets in Colorado.
The company said contractor selection for the Sagebrush 3D seismic survey is close to completion, with field operations expected to begin in early October.
Independent consultant Sproule is conducting an assessment of the Sagebrush project, including economic modelling and resource estimates. Historic samples from the Sagebrush-1 well indicated a gas composition of 2.76% helium and 23% methane. The review is expected to provide both contingent and prospective helium resource estimates.
At the Coyote Wash project, Mosman has re-submitted regulatory documentation under the Indian Mineral Development Agreement framework, with further discussions scheduled.
The company also confirmed that preliminary surface facility design work identified no major technical barriers to future development.
"Across Sagebrush and Coyote Wash we are executing at pace," said interim chief executive Howard McLaughlin.
He added: "These steps build on the recent Tribal approval for Sagebrush 3D seismic and position Mosman for a material period of newsflow and value-driving activity."