9th August
2024
Mining, Minerals & Metals
plc (to be re-named Georgina Energy plc)
("Georgina" "Georgina Energy" or
the "Company")
EPA155 Mt Winter
Update
Mining Minerals & Metals plc (to
be re-named Georgina Energy Plc) GEX.L is pleased to announce the
following Mt Winter EPA155 update.
Further to the Company's Operational
Update of the 8th August 2024 we are pleased to confirm
the Company has received a formal invitation from the Central Land
Council to attend an on-ground meeting on the 11th
September 2024 in Alice Springs for the purposes of approving
negotiations leading to the granting of the EPA 155
application.
Mining, Minerals & Metals plc is
in the process of legally changing its name to Georgina Energy plc
and this change is expected to be finalised shortly.
Meeting Traditional Aboriginal Landowners
·
EPA155 Mt
Winter: Westmarket Oil & Gas Pty
Ltd, the wholly owned subsidiary of Georgina Energy PLC as operator
of EPA155, has now received a formal request as the operator of the
Westmarket /Oilco Farmin partnership to meet the Traditional
Aboriginal Landowners to present the company's plans for the
exploration, development and re-entry at EPA155 Mt Winter. The
meeting will see the Company representatives seek the consideration
of the traditional aboriginal landowners to the granting of the
exploration permit EPA155. As part of this process, the Company
will contribute to The Central Land Council the costs and expenses
of the meeting. Should the traditional landowners consent, the
Company will expedite its commitments under the farm-in agreement
to earn its initial 75% interest.
Anthony Hamilton, Chief Executive
Officer of Georgina Energy, commented:
"Our Indigenous Consultant has
worked tirelessly to obtain this meeting and allow Georgina Energy
to make representation on behalf of the farm-in partners to the
traditional Aboriginal landowners. We will outline our plans and
ultimate goals of delivering a positive outcome to the indigenous
community and delivering low-risk projects in Australia for the
development of our natural gas, hydrogen and helium projects
through our well re-development programme at EPA155 Mt
Winter."
About Georgina Energy
Significant Gas Potential
Georgina holds 100% of the working
interest in the Hussar Prospect and has a right to earn a
75% interest in the EPA155 Mt
Winter Prospect (with the potential
to reach 90%) covering 3,951 Km² held over the two
project areas in Western Australia, a proven region with
significant gas potential.
Hussar Prospect
The Hussar Prospect hosts unrisked
2U Prospective (Recoverable) Resources of c.155 BCFG (155 million
MCF) of Helium and c.173 BCFG (173 million MCF) of Hydrogen, and
c.1.75 TCFGE of Hydrocarbons.
Hussar is considered by independent
consultants to be one of the most potentially lucrative resource
basins in the Asia Pacific region due to its significant helium,
hydrogen, oil & natural gas potential.
Subject to permitting and processing
of additional seismic and AEM-PTP surveys, Georgina anticipates
re-entering and deepening Hussar during 2024.
EPA155 Mt Winter Prospect
The EPA155 Mt Winter Prospect hosts
unrisked 2U Prospective (Recoverable) Resources of c.148 BCFG (148
million MCF) of helium and
c.135 BCFG (135 million MCF) of
hydrogen, and c.1.22 TCFGE (Trillion Cubic Feet
Equivalent) of hydrocarbons.
The EPA155 Mt Winter-1 well was
drilled in 1982 to a depth of 2,650m TD but did not penetrate the
subsalt Heavitree Formation hydrogen, helium & natural gas
reservoir target but reached TD in salt just above it. All 3
previously drilled wells have penetrated the Heavitree and
encountered high concentrations of helium (up to 9%) and hydrogen
(up to 11%).
Georgina has an initial programme to
complete seismic and then re-enter the existing well to develop the
gases.
Highly Experienced Management
Team
The Board is comprised of
experienced professionals in the oil & gas exploration space
with technical capacity and an expert understanding of development
and sales. Anthony Hamilton (Chief Executive Officer) has over 35
years' extensive experience in mining, oil & gas and
exploration and production. Mark Wallace (Chief Finance
Officer) has over 25 years' experience in the global financial
markets. John Heugh (Executive Technical Director) has over 50
years of experience and was the founding director and MD of Central
Petroleum Ltd listed on the ASX. Roy Pitchford (Non-Executive
Director) brings over 30 years' executive and managerial expertise
during his career in the resource development area.
Differentiated and Low
Risk
Georgina adopts a low risk,
differentiated strategy and is already well advanced in its
exploration activities in relation to its UK peer group as it is essentially a well
re-redevelopment company. There is proven gas flowing from the
original drilled wells, established infrastructure for the projects
as well as a recognised supply chain. Both target sites have
previously been drilled and the road access remains usable.
Georgina intends to supply from the wellhead under off-take
agreements to mitigate infrastructure costs. Given the established
infrastructure and reliable supply chain, the Board and management
team are aiming for Georgina to become a leading global producer of
helium and hydrogen.
Helium Market Dynamics
Georgina gives investors a chance to
benefit from supply and demand dynamics. There is a global short
supply of helium and significant increases in demand, including
space launch usage, has led to further price increases.
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.
The projects benefit from
established infrastructure and a reliable supply chain, offering
significant resource potential through low-risk, cost-effective
drilling projects.
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 Hussar projects for their
potential accumulations.
For more information
visit https://www.georginaenergy.com