- Echelon completes acquisition of a 100% interest and operatorship in EP145,
Amadeus Basin, Northern Territory in transaction with Mosman Oil & Gas
- Purchase price A$400,000
- 5 per cent royalty on helium and hydrogen
Echelon Resources Limited is pleased to announce
that it has completed the acquisition of a 100% interest and operatorship in the onshore
Exploration Permit EP145 (EP145), located in the Amadeus Basin in the Northern
Territory. The acquisition, completed with London Stock Exchange-listed energy
company, Mosman Oil & Gas (AIM: MSMN) includes formal transfer of title to Echelon.
The exploration opportunity is in Echelon’s core asset area in the Northern Territory,
where the Company has production from our Mereenie, Palm Valley and Dingo fields,
supplying gas into a market where customers are keen for new gas supply.
EP145, is adjacent to the Mereenie Gas Field and represents a robust infrastructure led
exploration opportunity. Two exploration wells were drilled in the permit area in the
early 1980’s. The West Walker-1 well was a gas discovery, encountering gas bearing
sands in the Pacoota Sandstone and producing 3 MMscf/d on testing. This is the primary
producing reservoir at the adjacent Mereenie Gas Field. The Company plans to apply high
resolution 3D seismic, followed by drilling to define the discovery, aiming to tie this gas
resource into the Northern Territory gas market as quickly as possible.
“This is very exciting acreage, with a discovery on it, in a corner of the world we
know well, in a market that has great ambitions that all need gas,” Echelon Chief
Executive Andrew Jefferies says.
“We’ve already engaged Fleet Space Technologies to conduct a landmark active seismic
survey over the prospective area in 2026 using its ExoSphere platform. This will be the
largest 3D acquisition in the prolific Amadeus Basin. Given the proximity to infrastructure,
the supportive NT regulatory environment, and our connections to both the burgeoning
East Coast and NT markets, it’s my hope that we can be cooking with EP145 gas in the
coming years - Jack in Jabiru and Jess in Jerangle’s Buffalo burgers, medium rare with a
fine pepper sauce.”