Mosman Oil and Gas Ltd (AIM:MSMN) has declared that its acreage in Australia’s Northern Territory “has the essential ingredients for helium and hydrogen prospectivity”.
The company, in a statement, said that a preliminary technical evaluation by Geognostics Australia Pty Ltd has identified favourable scenarios for viable helium and hydrogen plays, along with hydrocarbons, in the EP 145 permit.
It noted, additionally, that each of the two wells flowed helium, hydrogen and hydrocarbons.
Now, Geognostics has identified and ranked five high-graded areas of prospectivity and new play concepts have been developed for deeper, basement-derived helium and hydrogen exploration.
Geognostics’ ‘best case’ estimate sees some 440bn cubic feet of total gas for these areas comprising 26.4 BCF of helium and 26.4 BCF of hydrogen, whilst its ‘high case’ estimate envisages 2.29 trillion cubic feet of total gas with 229 BCF of helium and 275 BCF of hydrogen.
With its next steps in this project, the company said it intends to acquire seismic data ahead of drilling an exploration well. It has applied for necessary regulatory and Central Land Council approvals for its plans.