(Alliance News) - Mosman Oil & Gas Ltd on Monday said it has lodged an environmental management plan to the Northern Territory government in Australia for its EP 145 project.
Mosman is an oil exploration, development, and production company with projects in the US and Australia.
It said approval of the EMP and re-issue of the Aboriginal Areas Protection Authority certificate are the two remaining approvals required prior to the acquisition of 2D seismic expected in 2024.
Mosman said completion of the farm-in Agreement, as announced in October, is subject to government approval of the proposed change of operator and transfer of interest.
Greenvale Pty Lim, who Mosman signed the farm-in deal with, has advised Mosman that it has received the stamp duty assessment and paid the amount due.
Mosman said the next step is Ministerial approval, which is expected to proceed now that stamp duty has been paid.
"The company is not in control of the timing of Ministerial approval, but based on progress so far anticipates completion to occur in the near future," the company said.
Mosman Chief Executive Officer Andy Carroll commented: "I am pleased these two milestones in the exploration and farm-in agreement process have been reached. This keeps us on track to acquire seismic in 2024 and then drill in 2025 to test the helium, hydrogen and hydrocarbon potential in this area."
Mosman shares were up 4.0% to 0.013 pence each in London on Monday at midday.
By Greg Rosenvinge, Alliance News senior reporter
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Mosman Oil Gas (MSMN)