Mosman Oil and Gas (LON: MSMN) shares are down on Wednesday after confirming that it has completed the airborne gravity and gradiometry data acquisition over permit EP-145 located in the Amadeus Basin in Central Australia.
The company described the survey as “a significant step” in the exploration programme for EP-145. It is the first time data will be acquired for the whole permit and will provide information across the entire 818 sq km permit area.
The current data is limited to the northwest and central part of the permit, with existing data too sparse to provide sufficient detail of the salt-related structures identified as hydrocarbon and helium leads.
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The survey was completed by Xcalibur Airborne Geophysics. Mosman has now contracted Geognostics Australia to interpret the data. They will integrate it into the regional basin model, which is estimated to take approximately 8 weeks and cost the company A$82,000.
Mosman’s share price is currently down 1.56% at 0.157p.
Should you invest in Mosman Oil and Gas shares?
Mosman Oil and Gas shares are traded on the London stock exchange’s AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are MSMN shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
