REG - Georgina Energy PLC - Hussar EP513 Drill Contract

Georgina EnergyAnnouncement

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RNS Number : 7677A  Georgina Energy PLC  16 April 2026

 

16(th) April 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

 

Georgina Energy Plc, GEX.L is pleased to announce that, following extensive
consideration, it has executed a letter awarding Ensign Australia Pty Ltd for
the proposed drilling program at Hussar EP513. The final terms remain under
negotiation and will be finalised with an agreed and executed Contract for the
supply of an Ensign 970 drill rig for the Hussar prospect re-entry well in
EP513.

 

The rig is an ADR (Automated Drilling Rig)-1500 model with a hook load
(capacity to lift drill string, tools etc) of 750,000 lbs and capable of
drilling to 5,000m depth with 5" drill pipe (note the prognosed TD of the
Hussar well is c.2,800m).

Harlequin Energy and its consultants Schlumberger Oilfield UK Limited are
working closely with the Company and its Consultants for the drilling of the
Hussar well and field development in a structured Offtake arrangement that is
non-dilutive for Georgina shareholders.

 

The contractual negotiations with Ensign have been extended, requiring further
review, including rig availability in Q3 2026 to drill the main subsalt
reservoir targets, the Townsend Formation and the fractured Neoproterozoic
basement lithologies.  Ensign and Georgina are finalising the contract terms
for contractor obligations, mobilisation, main camp operations, water supply,
technical support, key personnel requirements, safety obligations and terms of
Force Majeure to facilitate execution of the contract. The drill program is
planned for 50 days to completion subject to any changes deemed necessary as
the program evolves.

 

The Company is planning further pre-drill site inspections along with work
programs to be completed to ensure compliance with the (DMPE) approved Well
Management Plan (WMP). RFQs in relation to casing, wellhead, and required
service company support are ongoing.

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

 

"While negotiations with Ensign have been taking longer than previously
guided, we are pleased to confirm selection of the Ensign 970 drill rig for
Hussar, pending a final contract.  The Company and its consultants continue
to progress the necessary preparatory planning and civil engineering works
required to enable the drill testing of this exciting prospect in Q3, 2026,
for which we remain on target."

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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