REG - Georgina Energy PLC - Resource Upgrade EPA155 MT Winter

Georgina EnergyAnnouncement

08/05/2025 07:01

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RNS Number : 7840H  Georgina Energy PLC  08 May 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

 

8(th) May 2025

 

Georgina Energy plc

 

("Georgina", "Georgina Energy" or the "Company")

 

 

RESOURCE UPGRADE EPA155 MT WINTER

 

Georgina Energy plc, GEX.L is pleased to announce a significant resource
upgrade at its Mt Winter Prospect (EPA155, Northern Territory). The upgrade
follows the successful completion of  seismic data reprocessing and
re-mapping from the Independent Competent Person, Mr Maki Petkovski. This
addendum builds on the CPR of May 23, 2024, published by Al Maynard &
Associates, released in the Company's Prospectus (available on the GEX
website). The revised estimates take into account Georgina's assumed 75%
working interest, based on the Company funding 100% of the planned Mt Winter-1
re-entry program. A copy of the CPR Addendum can be found on Georgina's
website here
(https://wp-georgina-energy-plc-2025.s3.eu-west-2.amazonaws.com/media/2025/05/2025.05.07-EP155-Addendum-to-CPR-Final.pdf)
.

 

Highlights

 

·      15% increase in net attributable 2U Prospective Recoverable
Resources of helium and hydrogen

·      3% increase in natural gas resources

·      Identification of a new 60km² structural closure, offering
future drill target potential

·      Re-entry planned at Mt Winter-1 well, with target depth extended
to ~2,900m

·      Exploration permit negotiations progressing; Company to
hold 100% interest in EPA155 upon completion

 

 

Resource Upgrade Summary

 

The updated seismic mapping and reprocessing has enabled a comprehensive
review of the resource potential of the Mt Winter Prospect within EPA155,
Northern Territory, resulting in an increase in net attributable 2U
Prospective (Recoverable) Resources of 15% of both Helium and Hydrogen and a
3% increase in net attributable 2U Prospective Recoverable) Resources of
natural gas.

 

Note: These net attributable resources are calculated at the 75% ownership
level.

 

The previous CPR reported potential net attributable 2U PRMS Prospective
(Recoverable) Resources of 111 BCF Helium, (111 million MCF), 102 BCF
Hydrogen, (102 million MCF) and 0.91 TCF natural gas. Subject to Georgina
funding 100% of the first re-entry well, these 75% net attributable resource
may increase to a 90% interest resulting in potential net attributable 2U
Prospective (Recoverable) Resources of 133 BCF Helium, (132 million MCF), 122
BCF (122 million MCF) of Hydrogen and 1.1 TCF natural gas.

 

Resource estimates presented are unrisked and have been determined utilising
the Society of Petroleum Engineers (SPE) Petroleum Resource Management System
(PRMS) 2018 and 2011 (Guideline) principals. Standard PRMS terminology is
utilised in this report, presenting Resource Estimates as low 1U (P90), 2U for
best estimate (P50), and as 3U for high estimate (P10) of as-yet undiscovered
volumes.

 

 

New Closure Identified and Development Outlook

 

In addition, a large structural high of up to 60 km(2) closure to the
north-east of the Mt Winter-1 well and to the north of the existing Mt Winter
Prospect has been identified and represents a significant additional potential
closure as a future drilling candidate subject to further additional seismic.

 

The completion of the seismic reprocessing and re-mapping support the
Company's planned re-entry at the Mt Winter-1 well, which was originally
drilled in 1982 to a depth of 2,650m in the Gillen Salt. Georgina is now
planning the re-entry and deepening of Mt Winter-1 to approximately 2,900m to
test the targeted helium, hydrogen and natural gas potential in the subsalt
Heavitree Formation reservoir.

 

 

Update on Exploration Permit

 

The Company has executed the necessary Confidentiality Agreements and is
currently negotiating the Aboriginal Land Rights Agreement ("ALRA") to be
lodged with the Northern Territory Department of Mining and Energy ("DME")
under the Petroleum Act 1984 (NT) to secure the granting of the exploration
permit and consequent settlement of the previously announced Share Sale
Agreement with Oilco. Georgina will hold a 100% working interest in EPA155.

 

 

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

 

"We are very pleased with this outstanding 15% increase (helium &
hydrogen) to the recoverable resources in our Mt Winter asset, as well as the
identification of a second larger target structure within our existing permit
area which could provide significant potential to increase the resource.

 

We anticipate receiving the grant of the exploration permit and are working
well with the regulators of the NT DME. Georgina remains focused on
re-entering both the Hussar and Mt Winter wells as part of our program to
develop low-risk helium, hydrogen and natural gas projects in Australia."

 

 

 

 

ENDS

 

 

 

 

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 in the Amadeus Basin in the Northern
Territory, subject to the completion of 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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