Mosman Oil and Gas Ltd told investors it expects drilling to begin at the Vecta helium project, in Colorado, by mid-May.
The project, 20% owned by Mosman, has five scheduled exploration wells.
Vecta Oil and Gas, the project operator, met with Mosman recently in Denver to review geological and operational plans.
“Each of the prospects has been identified by Vecta based on years of experience and a thorough review of existing data, and each has its own individual characteristics,” Mosman chief executive Andy Carroll said in a statement.
“Mosman considers the key factors to be the helium concentration and the reservoir pressure that indicates the well production potential.”
AP Angel analyst David Mirzai, in a note, highlighted that Mosman has a diversified portfolio of attractive helium and hydrocarbon assets in the US, and, it’s set to benefit from heightened investor interest through an active exploration programme in 2025.
“Any exploration success will de-risk the helium potential on its acreage, as well as ongoing helium developments by peers de-risking the minimum flow rates, grade and cost required to pass the commerciality threshold for new projects,” the analyst said.
