REG - Georgina Energy PLC - Operational Update

Georgina EnergyAnnouncement

03/10/2024 07:00

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RNS Number : 7060G  Georgina Energy PLC  03 October 2024

 

3 October 2024

 

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")

 

 Operational Update

 

Georgina Energy Plc, GEX.L is pleased to provide the following operational
update.

 

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

"This is a very busy period for Georgina as we focus on multiple workstreams
to fulfil obligations for the Hussar drilling permit in order to commence
operations in December. Additionally, following the successful meeting on
11(th) September with the CLC and the traditional landowners for the Mt Winter
prospect, we expect to receive formal confirmation from both groups shortly.
Concurrently, we have completed the evaluation of the additional re-entry
targets which will shape our post-Hussar and Mt Winter work programme, and
have approached several parties regarding potential opportunities."

 

EP513 Hussar

 

·      Drilling Permits: Land Council clearance has been requested from
traditional landowners. Well design, safety plans, well management, and
re-entry programs are in place for December 2024 operations.

·      Nominated Operator Approval: Georgina's 100% owned subsidiary,
Westmarket Oil & Gas Pty Ltd, has been formally approved as the nominated
operator for Hussar by DEMIRS.

·      Seismic Reprocessing: Georgina has signed a data sharing
agreement for seismic data reprocessing to provide revised mapping of the
Officer Basin, which will be submitted with our drilling program to DEMIRS.

·      Site Inspection: The Company anticipates being on site at Hussar
in November to complete a site inspection and environmental survey with the
traditional landowners addressing heritage matters; a requirement of the drill
permit granting process from DEMIRS. Other preparatory requirements and
clearances have been applied for ahead of operations commencement in December.

·      Resource Evaluation: Georgina Energy has received the first draft
report from the independent competent person based on seismic data
reprocessing, AEM PTP data and revised mapping. The report is under review and
will be released upon completion.

 

EPA155 Mount Winter

 

·      Approval EPA155: Following our positive meeting with the
traditional landowners and the CLC on 11(th) September, we expect to receive
formal confirmation on the outcome for the EPA155 application shortly. In
anticipation of the successful outcome, Georgina has engaged independent
consultants to reprocess the 2D seismic data.

 

Additional targets and scoping study

 

·      Additional Targets: The Company has completed its review of
potential re-entry targets for post-completion of the developments at Hussar
and Mt Winter. There are several potential targets and Georgina has approached
various parties to determine interest in either a farmout or direct interest.
Subject to formal agreements, the Company will advise on any outcomes.

·      Scoping Study: An independent consultant has been appointed to
conduct a scoping study, which will include both EP513 and EPA155 if the
EPA155 application is successful. The study will provide capital and operating
cost estimates, with sensitivity analysis, for the proposed gas separation and
purification plant to be owned and operated by the offtake group.

 

 

 

 

 

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, which Georgina Energy has a right to earn an initial 75 per cent.
interest in (with the potential to reach 90 per cent.).

 

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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