Australia

Mosman’s EP 145 permit was sold to Echelon Resources Limited, a company that has interests in the adjacent Mereenie gas field. Mosman holds a 5% royalty on production. This strategic sale avoids the significant exploration costs of AU$2.5M in 2025, and the permit covers a prospective base case resource of 440Bcf total gas and 26.4Bcf helium (independently verified, SRK 2023).

The permit contains a significant anticline (named West Walker), over 30km in length, which hosts Ordovician through to Neoproterozoic stratigraphy with prospective targets at multiple levels of over 30km in length. The significance of the geology is its proximity to the nearby Mereenie oil and gas field, which produce from the Ordovician Pacoota Sandstone unit.

Two wells have been drilled on the anticline, the first West Walker -1 tested the western end of the feature. The well was drilled on a sparse seismic grid in 1982 and flowed wet gas to surface at a rate of 3.5MMscf/d from the Pacoota Sandstone, the main producing reservoir in the Mereenie and Palm Valley Fields. A follow up well drilled, Tent Hill-1 (1984), was drilled to the southeast on the same anticline, oil was observed seeping from cores but the well was not tested. Reprocessing of the vintage seismic data shows that both wells were drilled off structure, West Walker-1 drilled downdip of the main closure and Tent Hill-1 did not penetrate the target sandstone within closure.

• 5% royalty retained
• $2.5M in 2025 capex avoided
• Historical gas flow of 3.5 MMscf/d

Located in the Northern Amadeus Basin between the producing Surprise Oil Field and Mereenie Oil and Gas Field has significant prospectivity for helium, natural hydrogen and hydrocarbons.

EPA 155 lies within the highly prospective Horn Valley Siltstone fairway with proven hydrocarbon potential as demonstrated by historical wells, Mt Winter-1 & 1A. Exploration data comprises a sparse 2D seismic grid and 2 wells.

The area is supported by existing gas infrastructure, including pipelines to the North-East and South Australian coast, with road, rail and airport infrastructure readily accessible. There is an existing helium plant in Darwin and an additional helium extraction facility proposed by Central Petroleum.

Mosman’s EPA 155 permit was sold to Georgina Energy Plc in January 2025. The permit application sale and prior exploration activity by Mosman has been converted to a 2.5% royalty. EPA 155’s prospective resources include 1626Bcf natural gas, with 197Bcf helium (Georgina Energy, 2022).

• 2.5% royalty retained
• 197 Bcf helium potential
• Adjacent to producing Surprise & Mereenie fields