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Mosman Oil & Gas Ltd lands key approval from Northern Territory authorities

The decision allows Mosman to progress with its plans for the Amadeus basin project.

Mosman Oil And Gas Ltd - Mosman Oil & Gas Ltd lands key approval from Northern Territory authorities
A contractor has been hired for seismic work programmes

Mosman Oil & Gas Ltd (LON:MSMN) told investors that it has been informed by the Northern Territory Government that it has approved a 12 month suspension to ‘Year 3’ commitments for the Amadeus basin project.

“This is exactly the decision Mosman had sought and now the company can move forward with the 2D seismic acquisition, seismic processing and interpretation and exploration well planning,” the company said in a statement.

READ: Mosman nears potential Amadeus joint venture deals

Mosman noted that it is already progressing the work, hiring a contractor, and conducting assessments of the terrain ahead of the seismic programme.

It will next await completion of a survey by the Aboriginal Areas Protection Authority (AAPA) to ensure no areas of cultural significance will be disturbed by the planned seismic activities.

Earlier this month, Mosman highlighted its potential partnership plans for the project.

The company told investors it had signed preliminary agreements with undisclosed parties for a potential joint venture.

It is looking for partners to fund seismic work, followed by a well, planned for next year.

Quick facts: Mosman Oil And Gas Ltd

Price: 0.23 GBX

AIM:MSMN
Market: AIM
Market Cap: £2.04 m
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