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Mosman Oil And Gas Ltd gets green light for Amadeus permit extension

() told investors that the Northern Territory Government has given the green light for the company to extend its permit in the Amadeus basin.

In a statement, the company said that it was advised by the relevant minister in the regional government that the application for a suspension and extension to the work programme conditions for the EP145 permit has been approved.

READ: Mosman to raise £400,000 for first well at Champion

“The approval provides additional time to arrange access to the permit area and to conduct further environmental works and preliminary logistics, once the COVID-19 restrictions are lifted,” the company said.

The requested extension will give Mosman permission to suspend its committed programme by 12 months, and, a new permit deadline is set for August 21, 2023.

Last week, Mosman announced it had raised £400,000 through a placing to help it drill the Falcon well at the Champion project in Texas.

The junior has a farm-in agreement with Baja Oil and Gas where it has a 60% working interest but will pay 80% of the first well at the Champion Project. This well has an estimated total cost of US$700,000 to drill and complete.

Read More: Mosman Oil And Gas Ltd gets green light for Amadeus permit extension

2020-07-10 08:47:00

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