Echelon Resources to Acquire Exploration Permit in Northern Territory For AU$400,000; Shares Rise Over 7%

MT Newswires Live

2025/01/15

Echelon Resources (ASX:ECH) executed a binding terms sheet with Mosman Oil & Gas to purchase a 100% interest in an onshore exploration permit in the Amadeus Basin in the Northern Territory for AU$400,000 in cash, according to a Wednesday Australian bourse filing.

The permit is adjacent to Echelon's Mereenie gas field.

Mosman retains a 5% helium and hydrogen royalty.

The deal is subject to entering into a formal sales and purchase agreement and regulatory approvals, the filing said.

Echelon Resources' shares rose over 7% in recent trading on Wednesday.

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Gas to purchase a 100% interest in an onshore exploration permit in the Amadeus Basin in the Northern Territory for AU$400,000 in cash, according to a Wednesday Australian bourse filing.</p><p>The permit is adjacent to Echelon's Mereenie gas field.</p><p>Mosman retains a 5% helium and hydrogen royalty.</p><p>The deal is subject to entering into a formal sales and purchase agreement and regulatory approvals, the filing said.</p><p>Echelon Resources' shares rose over 7% in recent trading on Wednesday.</p></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ELON","symbol_name":"Battleshares TSLA vs F ETF","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2503654716","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2503654716","pubTimestamp":1736912792,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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