REG - Georgina Energy PLC - Hussar EP513 Drilling/Funding

Georgina EnergyAnnouncement

26/01/2026 07:00

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RNS Number : 2503Q  Georgina Energy PLC  26 January 2026

 

 

26(th) January 2026

 

 

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")

 

 Hussar EP513 Drilling/Funding

 

 

Georgina Energy Plc, GEX.L advises Harlequin Energy Ltd ('Harlequin') has
formally confirmed its intention to proceed with funding for the Hussar EP513
prospect for the anticipated recovery of Helium, Hydrogen and Natural Gas.

 

Harlequin has given notice to proceed with funding of the drilling of the
Hussar-2 well within the EP513 Lease and undertaken to complete site repairs
to the airstrip and access roads, construction of drilling pads, water wells
and camp location pad, in preparation for drilling as set out in the
Memorandum of Understanding ("MOU") signed on 24(th) August 2024. The Company
has undertaken due diligence and been provided with Harlequin's USD$25 million
structured offtake funding facility to finance Georgina's drilling program.

 

HUSSAR EP513:  Harlequin has engaged Schlumberger Oilfield UK Limited to work
in conjunction with Georgina's technical consultants (Aztech Well
Construction) to proceed with the planning, engineering and drilling of an
exploration well at Hussar. Harlequin will fund the Hussar drill program in a
structured offtake financing arrangement.

 

The drilling program and site infrastructure works required to develop Hussar
into a producing asset will be funded solely by Harlequin and their partners
in a structured offtake funding arrangement that is non-dilutive for Georgina
shareholders.

 

The structured offtake funding arrangement is Georgina's preferred approach to
financing future drilling, as it enables gas sales at the wellhead while
avoiding significant capital outlay by the Company, thus making it a
non-dilutive solution for shareholders.

 

 

Drilling Program

 

Georgina's technical consultant, Aztech Well Construction have identified four
drill rigs available in Australia that meet the required specifications for
the 50-day drilling program.

 

·      ENSIGN RIG 974

·      MINRES EXPLORER RIG

·      SAVANNA SLR RIG 186 (V4)

·      VENTIA RIG 106 IDEAL PRIME

 

 

Following an extensive consultation process with Harlequin and Georgina's
technical team to agree the timeline and technical aspects of activity, the
Drilling Program broadly comprises the following:

 

 

 

 Completion Date   Activity

(Calendar 2026)
 Q1                Order long lead items such as wellhead/casing
                   Tender & contract drilling rig. Currently 4 appropriate rigs available
 Q2                Water bore(s) drilling and installation on site
                   Surface conductor pipe installation comprising the first section of drill
                   casing
                   Service company tender & contract; includes cementing, mud logging,
                   e-logging, WSG, testing contractors.
                   Expand site/access roads, airstrip, drilling pad works. Inspection, planning
                   and costing already completed.
 Q3                Finalise the engineering and well design in conjunction with the drill
                   contractor
                   Mobilise drilling rig to site and all relevant service companies
                   Drill to target depth, evaluate reservoir qualities, gas compositions, likely
                   sustainable flow rates.

 

 

Under the terms of a Joint Operating Agreement ("JOA") governing the drilling
program for Hussar, Harlequin, Schlumberger and Aztech will plan all site
activities in line with the Government (DMPE) approved Well Management Plan
(WMP) lodged by Georgina in 2025.

 

Aztech have finalized detailed costings for the access roads, airstrip and
drilling pad installation and will shortly complete costings for long lead
items including casing, a well head, airstrip repair, water well drilling and
reservoir evaluation services.

 

The Company has also undertaken an evaluation of the Hussar prospect to
determine the potential for fracture porosity enhancement of the volumetrics
with a revised estimation of total 2U Prospective (Recoverable) Resources of
Helium 283 BCF, Hydrogen 315 BCF and Hydrocarbons 2.9 TCF, an increase of 30%.
More detailed results will be released in due course.

 

 

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

 

"Georgina has received confirmation of a USD$25 Million structured off-take
funding facility to develop both Hussar and Mt Winter which along with the
recently announced acquisitions from Central Petroleum presents the company
with the opportunity to become a significant participant in the extraction of
Helium, Hydrogen and Natural Gas."

 

 

END

 

 

 

 

 

 

 

 

 

 

 

Enquiries

 

Georgina Energy

 Tony Hamilton  via georginaenergy@apcoworldwide.com (mailto:georginaenergy@apcoworldwide.com)
 Mark Wallace

Tavira Financial Ltd - Financial Adviser and Joint Broker

 Jonathan Evans     +44 (0)20 3833 3719 (tel:+442038333719)
 Oliver Stansfield

 

Oak Securities - Joint Broker

 Jerry Keen       +44 (0)203 973 3678 (tel:+442039733678)
 Henry Clarke
 Dillon Anadkat

 

Financial PR via
 georginaenergy@apcoworldwide.com (mailto: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, is located in the Amadeus Basin in the Northern
Territory, subject to completion of the Sale Agreement Georgina Energy will
hold a 100% working interest.

 

In line with market demand trends, Georgina Energy is well-positioned to
capitalize on the growing gap between supply and demand for hydrogen and
helium with the resource potential of EPA155 Mt Winter and EP513 Hussar
projects for their potential accumulations.

 

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

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