Mosman Oil and Gas Ltd (LON:MSMN) has been informed that its request to extend the deadline for the work commitments for the EP145 exploration acreage has been approved by the Northern Territory Government.
The extension means that work that was required to be complete by 21 August 2021 can now be completed with a new deadline of 21 August 2022, subsequent permit conditions have also been extended by a year.
The company said it had been advised by the relevant Northern Territory minister of the approval.
Mosman said it will now engage an airborne gravity data acquisition company, and, because there aren’t currently any Covid-19 restrictions in the region it expects to proceed with the project in the near future.
"All going well the gravity will be flown in June and the interpretation will be completed afterwards,” said chairman John Barr.
“The results from the gravity work will provide important details and will also affect the final Seismic programme which is currently in advanced planning stage."