Oscillate Plc - Operational Update

19 November 2024

Oscillate PLC

(“Oscillate” or the “Company")

Operational Update

The Board of Oscillate plc (AQSE: MUSH) the exploration company with a focus on natural “white” hydrogen, is pleased to provide shareholders with the following operational update on its activity in Minnesota, U.S.A. 

Highlights:

Initial evaluation of potential field data complete and identification of areas for start of operations identified.

Hydrogen sensing device dispatched to area of operations.

Contractor for field operation selected.

Land access permitting underway.

 

As part of its ongoing strategy to develop a comprehensive, regional understanding of the basin the Company has now completed the initial interpretation of available legacy geological and geophysical data thus enabling the Company to select the locations for initial data gathering. Recently acquired hydrogen sensing equipment has been shipped to Minnesota where a local group specialising in field operations have been contracted to undertake field operations and data compilation.

Hydrogen sensor ready for use – technical review and understanding of this new equipment has been completed by the Houston staff and the equipment has been shipped to Minnesota for further familiarity by the field team.

Potential field data (gravity and magnetics) has now been reviewed and the Company has selected  areas where the initial field work will begin. This will take place on lands where access is immediate while waiting for permission for additional land access.

Field Services contractor – A local contractor, Northern Geotechnical, with experience in data gathering and familiarity with the region, will provide personnel with the necessary expertise to operate the sensing device in the field.

Steve Xerri, CEO of Oscillate commented: “We are now about to join pioneers at our own licence areas, we join the race for commercial hydrogen. There are many parts of our programme now coming together and we look forward to these developments and being able to communicate in the near future. The geo-physicists, field development agents and a state manager now have the baton.

The Company is also pleased to report that our initial work programme is under budget, which allows further scope to speed up and refine our strategic plans.”

Jack Keyes, Technical Consultant, said: “Great to get started! The acquisition of sample data will be the first exploration operations undertaken by Oscillate on this acreage. Positive results from this phase will lead to additional sampling and the possible gathering of physical samples for additional laboratory analysis.”

The Directors of the Company accept responsibility for the content of this announcement.

Enquiries:

Company

Oscillate PLCSteve Xerriir@oscillateplc.comhttps://oscillateplc.com

Aquis Corporate Adviser

Peterhouse Capital LimitedTelephone: 020 7220 9790