Mosman Oil and Gas Ltd (AIM: MSMN) is advancing its helium exploration efforts in Colorado, with the drilling crew now deployed at the site known as ‘The Bard.’ The company reported that the drill rig is on location and will commence operations once weather conditions are favorable.
‘The Bard’ well represents the second of five planned wells within the Vecta project, following the successful drilling of the initial ‘Billy Goat’ well. Mosman has secured a royalty agreement to monetize the Billy Goat well’s production. Each of the five wells targets distinct structural closures, enhancing the potential for helium discovery.
Nearby offset wells have demonstrated significant helium concentrations, with levels reaching up to 11%. Notably, the closest well, ‘Texaco Cynthia True-1,’ has produced gas with 8.8% helium content from the upper Lyons sandstone formation.
Andy Carroll, Mosman’s Chief Executive, described the upcoming drilling at The Bard as a compelling opportunity: “This site allows us to test a second helium target within a proven area of helium development and production. Our expert team at Vecta, building on the legacy of the late Matt Goolsby, has meticulously selected each well location.”
Carroll expressed confidence in the prospects of the project: “We believe each well holds excellent potential for helium discovery. Additionally, the low-cost drilling approach enables us to quickly gather critical data without significant expenditure.”
Mosman currently holds a 20% working interest in The Bard well, underscoring its strategic commitment to expanding helium resources in the region.
