Share Talk Ltd
Mosman Oil and Gas (LON:MSMN) CEO Andy Carroll - Progress at EP 145 project, with Govt approval
- Author: Vários
- Narrator: Vários
- Publisher: Podcast
- Duration: 0:09:55
- More information
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Synopsis
Andy Carroll, CEO of Mosman Oil and Gas Ltd (LON: MSMN), spoke with Share Talk with the news that the company has received the final Government approval on the Farmin of its Australian project EP 145, in which Mosman currently holds a 100% interest. Work now continues to secure all required approvals for the next step of exploration by Farmin partner, Greenvale Energy Ltd (ASX: GRV / 'Greenvale'). Farmin Agreement A Farmin Agreement was signed with a subsidiary of Greenvale in October 2023, where it can earn 75% interest by funding seismic acquisition and drilling a well (to a cap of AUD 5.5 million). With the approval from the Northern Territory government now in place, the Farmin will proceed accordingly. Greenvale will earn a 75% working interest in EP 145 by: · Paying AUD 160,000 in cash to Mosman within 5 business days. · Paying for the EP 145 Permit Year 3 Work Programme, including seismic acquisition and processing. · Funding the Permit Year 4 Work Programme, including drilling one