Mosman Oil and Gas Ltd (AIM:MSMN) has had its application for a suspension and extension granted for the work programme conditions for the EP145 licence, in Australia’s Norther Territory.
The company, in a statement, told investors that the suspension and extension provides it with additional time in which to complete necessary year 3 work programme, by 21st August 2023, and the deadlines for subsequent phases of the licence are also extended.
Mosman said it meanwhile continues to actively progress with technical work to advance the helium and hydrogen exploration potential in the licence along with the known known hydrocarbons discovered on the West Walker anticline.
“The 12-month permit suspension and extension approval by the NT Government is a sensible response to the covid related delays in Australia,” Mosman added.
“It provides a realistic schedule required for necessary approvals and seismic acquisition, and then to optimise and plan a well location based on the acquired data.”