Mosman Oil and Gas Limited announced the Central Land Council (CLC) has agreed to extend the negotiating period in respect of the Company's EPA 155 permit application until October 2024. Mosman owns one granted permit (EP 145) and one application (EPA 155) in the Amadeus Basin in the Northern Territory of Australia. EP(A)155 Mount Winter: Located in the Northern Amadeus Basin between the producing Surprise Oil Field and Mereenie Oil and Gas Field EP(A)155 has significant prospectively for helium, natural hydrogen and hydrocarbons.

EP(A)155 lies within the highly prospective Horn Valley Siltstone fairway with proven hydrocarbon potential as demonstrated by historical wells, Mt Winter-1 & 1A. Exploration data comprises a sparse 2D seismic grid and 2 wells. Mt Winter-1 was drilled to a depth of 2,650m reaching TD in the Proterozoic Gillen Fm, above the helium and hydrogen prospective targets.

Hydrocarbons were encountered in 2 intervals, the Ordovician Stairway Sandstone (reservoir at Surprise Field) and Proterozoic Jonny's Creek Beds (reservoir at Ooaramina discovery, northeastern Amadeus Basin). The well was drilled off structure due to the limited seismic data available, and re-interpretation of the available data suggests valid targets at multiple depths down to and including basement.