Mosman Oil & Gas receives offer to buy Billy Goat helium project
Published: 10:12 20 May 2025 BST
Mosman Oil and Gas Ltd (AIM:MSMN) could potentially make a quick exit at the Billy Goat helium project, in Colorado, where drilling began last week.
Drilling already reached 720 feet, confirming a secondary exploration target, and is set to continue down to the well’s main target.
Mosman, however, reported on Tuesday that it has been approached by a local helium company interested acquiring the asset.
It added that talks have taken place with the business, and it is now “seriously considering” the offer which management believe could “be the fastest path to production and commercialisation” for helium discovered at Billy Goat.
"We are pleased that this potential opportunity has arisen,” Mosman chief executive Andy Carroll said in a statement.
“Mosman will only agree to a change that it considers more favourable to the company and shareholders. We look forward to providing further updates in due course."
Earlier this month, Mosman was itself wheeling and dealing, agreeing a deal with exploration partner Vecta Oil & Gas to increase the London-listed firm’s stake in the project to 90% from 20% in return for covering 100% of well costs.
At 0.047p, Mosman shares are up around 3% on Tuesday – are up around 17% over the past month, and have recently traded as high as 0.07p.
The company, which recently pivoted to focus on helium assets in America, presently has a market valuation of just over £8 million.
