REG - Georgina Energy PLC - SEISMIC REPROCESSING EPA155 MT WINTER

Georgina EnergyAnnouncement

31/10/2024 07:00

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RNS Number : 2462K  Georgina Energy PLC  31 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

 

31 October 2024

 

Georgina Energy plc

 

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

 

 

SEISMIC REPROCESSING EPA155 MT WINTER

 

 

Georgina Energy plc, GEX.L is pleased to announce the progression of seismic
data reprocessing and a comprehensive review of the resource potential for the
Mt Winter Prospect within EPA 155, Northern Territory.

 

Prior to the approval from the Traditional Landowners and pending Ministerial
approval, Georgina has engaged an Independent Competent Person to reprocess
and remap the 2D seismic data, originally collated in 2002, in line with its
farm-in obligations for EPA155 Mt Winter with Oilco Pty Ltd, a wholly owned
subsidiary of Mosman Oil & Gas.

 

The previous CPR in the Company's prospectus cited 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, this 75% net attributable
may increase to a 90% interest resulting in potential net attributable 2U
Prospective (Recoverable) Resources of 133 BCF Helium, (132 million MCF), 122
BCG (122 million MCF) of Hydrogen and 1.1 TCF natural gas.

 

The Company plans to re-enter the Mt Winter 1 well, originally drilled in 1982
reaching a TD of 2,650m in the Gillen Salt, and extend the depth to c.3,400m
to test the now targeted Helium, Hydrogen and natural gas potential in the
subsalt Heavitree Formation reservoir.

 

On completion of the reprocessing and re-mapping of seismic data, a report
will be tabled to the Company which will then be submitted to the partners for
consideration. The partners will be finalising a Joint Operating Agreement
("JOA"), per the farm-in agreement, as Georgina completes its obligations to
secure an initial 75% registered interest.

 

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

"In line with our strategy to achieve positive outcomes through well
re-development, the reprocessed seismic data for Mt Winter will provide new
and more accurate seismic contouring and profile mapping of the permit area
within the Amadeus Basin. Peer group volumetric comparisons are overwhelmingly
positive in favour of Georgina. 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."

 

 

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 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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