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(Alliance News) - Mosman Oil & Gas Ltd said Friday it had been granted an extension for its Australian project as it looks to progress the work programme at the site.
The Northern Territory government approved a 12 month suspension to the year three work programme commitments for the Amadeus Basin Permit EP145 held by Mosman. Consequently, the permit term has been extended by a year.
"This is exactly the decision Mosman had sought and now the company can move forward with the 2D seismic acquisition, seismic processing and interpretation and exploration well planning," Mosman said in a statement.
Mosman had sought an extension to the work programme in July.
"The company is already progressing the work program having contracted a seismic acquisition contractor to undertake the work and has completed field visits during 2019 to assess the terrain and logistical requirements for the seismic survey," Mosman continued.
Shares in Mosman were 0.2% higher at 0.24 pence in London on Friday.
By Ahren Lester; ahrenlester@alliancenews.com
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