24th Jul 2019 14:36
(Alliance News) - Exploration and production company Mosman Oil & Gas Ltd said on Wednesday that it will apply to extend the permit time frame for its EP 145 project in the Amadeus Basin.
Amadeus Basin is located in the Northern Territory of Australia.
The company said the anniversary date of the permit is August 21, meaning all of its 100 kilometre 2D seismic surveys, interpretation and well planning must be complete.
Mosman said it is "optimistic it will be granted" a longer time frame by regulator The Northern Territory Department of Primary Industry and Resources.
Seismic surveys are currently being undertaken by Mosman with specialist company Synterra Technologies Pty.
The company also said it is still pursuing farm-in discussions on EP 145 with prospective joint-venture partners in order to secure more funding.
In the same announcement, Mosman said operations at the Dukas Well have resumed and drilling will begin in the remaining sections of the well. The company said the drilling will add geologic information about the Amadeus Basin and assess how much hydrocarbon and helium potential it has below the salt seal.
Shares in Mosman were down 1.7% at 0.23 pence each in London on Wednesday afternoon.
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