Mosman made its first strategic move into helium in the USA in June 2024, with the acquisition of a 10% working interest in the Vecta Helium Project in Las Animas County, Colorado where there are five identified helium prospects in c. 48,000 leased acres. A further 10% working interest was acquired in July 2024 increasing Mosman's total working interest in the project to 20%.
The project is well placed with proven high helium content gas produced at the nearby Model Dome (7-11%). Other companies active in the area include Desert Eagle Operating producing helium at Red Rocks, and Blue Star Helium developing helium discoveries at Galactica/Pegasus.
The exploration strategy is to drill an exploration well on each of the five prospects in 2024. Following a successful exploration programme, the next step would be to drill helium production wells. The low cost of drilling enables managed exploration risk and costs.
