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Mosman Oil announces expansion to US helium prospects
(Sharecast News) - Mosman Oil and Gas reported an initial internal estimate of 1,072 million cubic feet of prospective helium resources at its wholly owned Coyote Wash project in Colorado on Monday, marking a significant addition to its US helium portfolio. The AIM-traded firm said the estimate, classified as a best 2U case, covered six mapped prospects within the project area and was based on parameters consistent with an independent evaluation of Mosman's nearby Sagebrush project by Sproule ERCE.
It said the model incorporated data from the Coyote Wash 30-12 well, which demonstrated strong reservoir deliverability in the Leadville Formation, and helium concentrations of 2.7% measured at Mosman's Sagebrush-1 well five miles away.
Coyote Wash lies within an established helium-producing region, with historic well data confirming good reservoir properties across the Middle and Lower Leadville carbonates.
Technical studies by Mosman and its partner Four Corners Helium have reinterpreted vintage well and seismic data to define six distinct structural prospects, including Coyote Wash North and five additional leads in the southern fault block.
Mosman said it planned to engage Sproule ERCE to conduct an independent assessment and certification of the Coyote Wash resource estimate, providing third-party validation ahead of drilling and development planning.
Chief executive Howard McLaughlin said the discovery potential at Coyote Wash strengthened the company's US growth strategy.
"Coyote Wash represents another exciting step in Mosman's US helium growth strategy," he said.
"With six mapped Leadville prospects and best-estimate helium prospective resources exceeding one billion cubic feet, the project has clear scale and upside potential.
"The combination of strong reservoir characteristics, proven regional helium charge, and proximity to our Sagebrush discovery provides confidence that Coyote Wash could become a significant addition to Mosman's portfolio."
At 1611 BST, shares in Mosman Oil and Gas were up 4.43% at 0.03p.
Reporting by Josh White for Sharecast.com.
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