Announcement • Jul 02
Georgina Energy Confirms Pre-Drill Site Works Progress for Hussar Ep513 Drilling Program
Georgina Energy Plc, GEX.L has confirmed that contractors and personnel continue onsite undertaking the pre-drill site works required for the Third Quarter Hussar drilling program. Current operations are proceeding as planned to enable the testing of this prospect, with 300 km² of areal closure and as one of the largest subsalt Helium, Hydrogen and Hydrocarbons prospects in onshore Australia. Pre-drill site works continue site at Hussar EP513, with current operations proceeding as planned. Access, airstrip, water well, drill pad and accommodation pad works are being progressed ahead of rig mobilisation. Contracted Ensign Rig 970 remains scheduled for mobilisation to site following completion of the current preparatory works, with an anticipated spud date in September 2026. Hussar will target primary subsalt reservoir formations, including the Townsend Formation and fractured Neoproterozoic basement lithologies, for helium, hydrogen and natural gas. The pre-drill site works are essential to be completed to ensure compliance with the Department of Mines, Petroleum and Exploration's approved Well Management Plan lodged by Georgina's wholly owned operating subsidiary Westmarket Oil & Gas Pty Ltd. in 2025. The Company's operations and technical consultancy teams have travelled and remain on site to ensure works on the road repairs, airstrip repairs, site access preparation, clear access for the water well drilling, preparation of the drill and accommodation pad are completed. The company is also working with the Traditional Owner's representatives to ensure compliance to its agreements and obligations. The contracted Ensign Rig 970 remains located in the North Perth Basin before being mobilised to site for Georgina, following completion of the current access, site, airstrip and water well drilling works pad and camp locations works, with an anticipated spud date in September 2026. Hussar prospect lies in the Officer Basin, Western Australia in exploration permit EP513 (SPA 0036). Georgina Energy intends to drill the EP513 Hussar well to a depth of 3,200m, targeting the primary subsalt reservoir formations, including the Townsend Formation and the fractured Neoproterozoic basement lithologies, for helium, hydrogen and natural gas. Independent consultants confirmed that Hussar has the required elements to yield net attributable 2U Prospective Resources of 155 BCFG Helium & 173 BCFG hydrogen with a potential combined in-situ value of USD 55,000 million (He USD 350/MCFG, H USD 2.65/kg) and net attributable 2U Prospective (recoverable) Resources of 1.73 TCFG of Natural Gas with potential in-situ value of USD 5,240 million. The pre-drill site works are essential to be completed to ensure compliance with the Department of Mines, Petroleum and Exploration's approved Well Management Plan lodged by Georgina's wholly owned operating subsidiary Westmarket Oil & Gas Pty Ltd. in 2025. The Company's operations and technical consultancy teams have travelled and remain on site to ensure works on the road repairs, airstrip repairs, site access preparation, clear access for the water well drilling, preparation of the drill and accommodation pad are completed. The company is also working with the Traditional Owner's representatives to ensure compliance to its agreements and obligations. The contracted Ensign Rig 970 remains located in the North Perth Basin before being mobilised to site for Georgina, following completion of the current access, site, airstrip and water well drilling works pad and camp locations works, with an anticipated spud date in September 2026. Hussar prospect lies in the Officer Basin, Western Australia in exploration permit EP513 (SPA 0036). Georgina Energy intends to drill the EP513 Hussar well to a depth of 3,200m, targeting the primary subsalt reservoir formations, including the Townsend Formation and the fractured Neoproterozoic basement lithologies, for helium, hydrogen and natural gas. Independent consultants confirmed that Hussar has the required elements to yield net attributable 2U Prospective Resources of 155 BCFG Helium & 173 BCFG hydrogen with a potential combined in-situ value of USD 55,000 million (He USD 350/MCFG, H USD 2.65/kg) and net attributable 2U Prospective (recoverable) Resources of 1.73 TCFG of Natural Gas with potential in-situ value of USD 5,240 million.
