Mosman Oil and Gas Ltd (AIM:MSMN) CEO Andy Carroll joined Proactive's Stephen Gunnion after the company announced a deal to sell its interest in Nadsoilco, which owns a collection of oil assets in Texas, in a deal worth up to $1.75 million.
Carroll discussed the company's evolving strategy towards helium exploration, highlighting the significance of helium due to its rising prices and increasing market demand. Mosman Oil has considerable experience in Australia, particularly with EP 145 licence in New South Wales, where its expertise in geology and drilling is applied.
Carroll said the pivot into helium necessitated the sale of the Nadsoilco assets to fund helium exploration.
According to Carroll, Mosman’s streamlined team, led by experienced professionals like Howard McLaughlin, is well-positioned to handle both production and exploration, ensuring effective management and operational focus on helium projects in the US.
With plans to drill five wells in Colorado later this year and ongoing activities at EP 145, he said Mosman aims to maintain a steady news flow and deliver significant progress in the coming year.
