Echelon (ASX:ECH) has executed a binding Terms Sheet with London Stock Exchange listed energy company, Mosman Oil & Gas, to purchase the 100% interest in the Northern Territory onshore Exploration Permit EP145, in the Amadeus Basin and highlights:
- Purchase price of AUD400,000 cash payment
- 5 per cent royalty on Helium and Hydrogen
- Agreement subject to conditions, including FIRB and regulatory approval
To view the full ASX announcement, click here.
Source: Echelon Resources