Mosman Oil & Gas (AIM:MSMN) CEO Andy Carroll speaks to Thomas Warner from Proactive London after the exploration, development, and production company announced a new farm-in agreement for its EP 145 asset in the Northern Territories of Australia.
Carroll starts by giving an overview of the partnership that's been agreed with Greenvale Gold Pty Ltd, a wholly owned subsidiary of Greenvale Energy Ltd (ASX:GRV), to fund seismic and drilling at the property.
He explains that instead of pursuing a spin-off IPO, Mosman chose the farm-in agreement due to challenging market conditions and the desire to avoid IPO costs. This strategic move allows the company to secure upfront cash and certainty for their exploration program. Carroll expressed enthusiasm for Greenvale's involvement, noting that their chairman, Neil Biddle, has a successful track record in the lithium industry. Biddle's experience and access to capital make him a valuable partner as they venture into the helium and hydrogen sector.
Mosman continues to focus on optimising production and revenue from its existing assets in the USA, ensuring a positive cash flow. With a new board member on board and plans to explore further opportunities, he believes Mosman Oil & Gas Ltd is poised for continued success in the energy sector.
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