Mosman Oil & Gas Ltd - New South Wales, Australia-based oil exploration, development and production company - Says its application to the Northern Territory Government Geophysics & Drilling Collaborations programme has been successful. Says its subsidiary, Trident Energy Pty Ltd has been awarded a EP 145 grant of 50% of costs capped at AUD50,000, or about GBP26,673 for the targeting of hydrogen and helium using soil sampling to advance exploration activity. Says the target is to determine if hydrogen or helium can be detected at surface. Expects the work to start later this year.
Chair John Barr says: "I am extremely pleased with the technical endorsement and financial support of the Northern Territory government for our continued exploration."
Current stock price: 0.065 pence each, up 13% on Monday afternoon in London
12-month change: down 19%
By Xindi Wei, Alliance News reporter
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Mosman Oil Gas (MSMN)