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
11th 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
11th 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
Tavira Financial Ltd - Financial
Adviser and Joint Broker
Oak Securities - Joint
Broker
Financial PR via
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