REG - Georgina Energy PLC - Hussar EP513 Drill Contract Update

Georgina EnergyAnnouncement

Thu 07:00

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RNS Number : 2758W  Georgina Energy PLC  12 March 2026

12(th) March 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 Drill Contract Update

 

 

Georgina Energy Plc, GEX.L provides the following update following meetings
with Ensign Energy concerning the supply of its Ensign 970 drilling rig for
the Hussar prospect re-entry well in EP513.

 

Highlights:

 •    Georgina is in discussions with Ensign Energy regarding its Ensign 970 rig

            ○  Ensign has until 18(th) March to respond to the standard
      contract provided

            ○  Georgina continues to review other rig applications
 •    Georgina continues to work closely with Harlequin Energy and its partners
      following signing of off-take agreement
 •    Company remains on target for civil engineering access and site works
      anticipated to commence in Q2, 2026
 •    The civil engineering works required to enable the drill testing of this
      prospect remains on track for Q3, 2026

 

Ensign has until 18(th) March to respond to the standard contract provided by
Aztech/Westmarket Oil & Gas Pty Ltd, while Georgina has other rigs to
consider prior to the execution of the contract.

The Company continues its planning for the water well drilling rig access and
a further  reconnaissance trip with the proposed contractors for repairs to
the access roads and airstrip, which is required to enable rapid mobilisation
of the drilling rig and support service companies to site.

The Company's technical consultant, Aztech Well Construction, continues to
issue additional RFQs in support of the planned drilling program including for
the casing, wellhead, and service company support for electric logging, casing
running and cementing, drilling fluid engineering, wellsite geology,
mudlogging and gas sampling/laboratory analysis services.

Following the execution of an Off-take Framework Agreement with Harlequin
Energy, the Company is working closely with Harlequin and its partners who
will provide funding for the drilling of the Hussar well and field
development. The Company remains on target for civil engineering access and
site works anticipated to commence in Q2, 2026.

 

Rig Specifications:

The rig specification is an Automated Drilling Rig ("ADR")-1500 model with a
hook load (capacity to lift drill string, tools etc.) of 750,000 lbs.

 

 •    Automatic pipe handling for both drilling and stacking, "auto roughneck"
 •    Triple stand capacity-can stand and vertically rack three joint lengths of
      drill pipe i.e. 90 feet sections
 •    A top drive, i.e. no rotating drill table; all powered at the top of the drill
      pipe
 •    Diesel electric 4,400 hp generator
 •    2 x 1,600 hp mud pumps
 •    Racking capacity 27,000 ft of 4" drill pipe
 •    Self-walking capability - can move independently short distances on the drill
      pad
 •    Capable of drilling to 5,000m depth with 5" drill pipe (note prognosed total
      depth ("TD") of the Hussar well is c.2,800m)

 

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

"The Company continues to undertake the necessary preparatory planning and
civil engineering works required to enable the drill testing of this exciting
prospect in Q3, 2026, as guided. With 300 km(2) of area closure, the Hussar
prospect is one of the largest subsalt Helium, Hydrogen and Hydrocarbons
prospects in onshore Australia."

 

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

 

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. Additional subsalt prospect re-entry
opportunities (Mt Kitty and Dukas prospects)  into known Helium, Hydrogen and
Hydrocarbon reservoirs in the Amadeus Basin in the Northern Territory with
drilled  occurrences of high concentrations of these gases (up to 9.5%, 11%
and 40% respectively) are expected to be acquired via imminent settlement of a
Sale and Purchase Agreement with the current owners, ASX listed Central
Petroleum Limited.

 

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, EP513 Hussar and the
Mt Kitty and Dukas projects for their potential accumulations.

 

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

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