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
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 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