Mosman Oil and Gas raised £300k through a share placement of 2.4bn shares at 1.25p/sh. The company aims to bolster its working capital and move forward the development of its wholly owned helium and hydrogen exploration projects - EP 145 and EPA 155, in the Amadeus Basin, Northern Territory, Australia. The funding is primarily allocated for the seismic and drilling activities under the Farm-in agreement with Greenvale Energy's subsidiary for EP 145, anticipating government approvals for operator change. The seismic program is scheduled in H1'24, with drilling planned in the subsequent permit year.
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