REG - Georgina Energy PLC - Operational Update

Georgina EnergyAnnouncement

03/03/2025 07:00

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RNS Number : 5945Y  Georgina Energy PLC  03 March 2025

 

3 March 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")

 

 Operational Update

 

Georgina Energy Plc (GEX.L), a helium, hydrogen and natural resources
development company in Australia, provides an operational update on EP513
Hussar and EPA155 Mt Winter.

 

EP513 Hussar

 

As announced on 20 February 2025, the Company was required to submit an
Environmental Impact Report ("EIR" or "EIS") and Heritage Report as part of
the final application for the drilling approval.

 

The EIS1 has been completed. however, due to the expansion of the structural
closure to c.350 km², an increase of 50 km², revealing additional
development opportunities within the field and enhancing the scope of future
field development, DEMIRS requires an EIS incorporating this area.

 

The Company have confirmed that access to the Hussar site will commence on 11
March 2025, as forecasted weather conditions allow for safe operations to
complete the EIS2 site visit and cultural heritage survey. Once the EIS2 study
is completed and report finalised, the completed report will be lodged with
DEMIRS by May 2025, supporting the drilling approval at Hussar. The cultural
heritage survey is a final confirmation of the absence of culturally sensitive
or heritage items at the drilling site.

 

The on-site team will include Company representatives, engineering consultancy
Aztech Well Construction, two cultural history specialists, six Traditional
Owners, and two environmental specialists. The Company remains in contact with
station owners, Traditional Owners and Shire Councils within the permit area
to monitor the weather and will provide updates if there are any changes to
the current status.

 

EPA155 Mount Winter

 

Following the execution of the Share Sale Agreement to acquire 100% interest
in EPA155 Mt Winter, the Company has been advised that the draft ALRA
agreement should arrive shortly. This is the final step in securing approval
from the Northern Territory Minister for the Department of Mining and Energy
for the selected priority area of EPA155.

 

The Company's consultants are reprocessing the seismic dataset and
interpreting the relevant horizons and basement structures, incorporating
updated volumetric details and remapping. This will provide an updated
assessment of the resource potential at Mt Winter, with a final report
expected April 2025.

 

Additional targets

 

Negotiations are ongoing under relevant Confidentiality Agreements. The
Company is awaiting a decision from the parties following discussions on the
structure of the proposed transaction, which will be conditional on formal
agreements.

 

The additional targets are advanced prospects with proven high concentrations
of helium, hydrogen and hydrocarbons which remain a focus for post-Hussar and
Mt Winter development.

 

 

Anthony Hamilton, CEO of Georgina Energy, commented: "Despite the weather
causing some adjustments to our timeline, the expanded structural closure at
Hussar represents a larger opportunity than initially expected which is within
our existing Exploration Permit area. Additionally, the successful acquisition
of a 100% working interest in Mt Winter, subject to completion, adds
significant value to the Company. I'd like to assure all of our shareholders
that we remain committed to systematically advancing both projects and
unlocking their full potential."

 

 

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 and subject to completion of the Contract of Sale Georgina Energy
will hold a 100% working interest through Westmarket Oil & Gas Pty Ltd.

 

 

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

LinkedIn: Georgina Energy
(https://www.linkedin.com/company/georgina-energy/posts/?feedView=all)

Twitter/X: @GeorginaEnergy

 

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