REG - Georgina Energy PLC - Contract of Sale Executed for EPA155 Mt Winter

Georgina EnergyAnnouncement

20/02/2025 07:15

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RNS Number : 7519X  Georgina Energy PLC  20 February 2025

20 February 2025

THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR
MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF (A) ARTICLE
7(1) OF UK MAR IN SO FAR AS IT RELATES TO ORDINARY SHARES ISSUED BY GEORGINA
ENERGY PLC

Georgina Energy plc

("Georgina", "Georgina Energy" or the "Company")

Contract of Sale Executed for EPA155 Mt Winter

Georgina Energy Plc, GEX.L, a helium, hydrogen and natural resources
development company in Australia, is pleased to announce that it has now
executed the Share Sale Agreement to acquire 100% of the issued capital of
Oilco Pty Ltd which holds the permit EPA155 (Mt Winter).

The Company has paid the A$50,000 deposit to Mosman Oil & Gas ("Mosman")
and has executed the confidentiality agreements necessary to complete the
"ALRA" (Aboriginal Land Rights Agreement) to be lodged with the Northern
Territory Department of Mining and Energy ("DME") under the Petroleum Act 1984
(NT) to secure the granting of the exploration permit.

Upon the grant of EP155 by the DME, Westmarket Oil & Gas Pty Ltd, a
subsidiary of the Company, will pay Mosman the balance of AU$300,000 from
current cash reserves to complete the acquisition.

Mount Winter Update

The Company has engaged consultants to reprocess the seismic dataset and
interpret all relevant horizons and basement details, which includes updating
volumetric details and remapping the area. The Company will then submit a
drilling approval application for the Mt Winter 1 re-entry.

Hussar Update

The Company is planning to complete the Environmental Impact Study 2 ("EIS2")
required by DEMIRS to obtain drilling approval at the Hussar prospect in the
Western Australian Officer Basin, where the Company is targeting the 350 km(2)
area for helium, hydrogen and natural gas. Cyclonic weather conditions with
heavy rain and flooding continue to create delays in gaining safe access to
site which has impacted the completion of EIS2.

Anthony Hamilton, Chief Executive Officer of Georgina Energy, commented:

"The execution of the share sale agreement to acquire 100% of the revised Mt
Winter exploration permit has significant potential benefits to the Company.
 This deal further strengthens Georgina's portfolio and increases the
potential shareholder value from this asset."

END

 

 

Enquiries

 

Georgina Energy

Tony Hamilton                           via
georginaenergy@apcoworldwide.com

Mark Wallace

 

Tavira Financial Ltd - Financial Adviser and Joint Broker

Jonathan Evans
            +44 (0)20 3833 3719

Oliver Stansfield

 

Oak Securities - Joint Broker

Jerry Keen                                +44
(0)203 973 3678

Henry Clarke

Dillon Anadkat

 

Financial PR                            via
georginaenergy@apcoworldwide.com

Violet Wilson                             +44
(0)203 757 4980

Letaba Rimell

 

Notes to Editors

Georgina Energy aims to become a leading player in the global energy market
and is focused on establishing itself among the top producers of helium and
hydrogen worldwide. With a strategic approach and leveraging the experienced
management team's expertise, Georgina Energy aims to capitalize on
opportunities in these critical energy sectors.

 

Georgina Energy has two principal onshore interests held through its wholly
owned Australian subsidiary, Westmarket O&G. The first, the Hussar
Prospect is located in the Officer Basin in Western Australia and Westmarket
O&G holds a 100% working interest in the exploration permit. The second,
the EPA155 Mt Winter Prospect, subject to the completion of the Contract of
Sale anticipates the permit being granted within the next 3 months. Mt Winter
is located in the Amadeus Basin in the Northern Territory, which Georgina
Energy via Westmarket Oil & Gas Pty Ltd will hold a 100% working interest.

 

For more information visit https://www.georginaenergy.com
(https://www.georginaenergy.com)

 

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