REG - Georgina Energy PLC - Hussar EP513 Drill Contract Executed

Georgina EnergyAnnouncement

20/05/2026 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260520:nRST0663Fa&default-theme=true

RNS Number : 0663F  Georgina Energy PLC  20 May 2026

 

20(th) May 2026

 

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")

 

Hussar EP513 Drill Contract Executed

 

Georgina Energy Plc (LSE: GEX.L),  a helium and hydrogen exploration company
with strategic permits in Australia, is pleased to announce it has executed a
drilling contract with Ensign Australia Pty Ltd,  for the supply of the
Ensign 970 drill rig for the upcoming drilling at its 100% owned Hussar
prospect in EP513, in Q3 2026.

 

 

The Hussar prospect lies in the Officer Basin, Western Australia in
exploration permit EP513 (SPA 0036). Georgina Energy intends to re-enter and
deepen 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 US$55
billion (He US$350/MCFG, H US$2.65/kg) and net attributable 2U Prospective
(recoverable) Resources of 1.73 TCFG of Natural Gas with potential in-situ
value of US$5.24 billion.

The previously guided drill testing timeline of Q3 2026 is unchanged, and the
drill program is planned for 50 days from spud to completion, subject to any
changes deemed necessary as the program evolves.

 

The rig specification is an Automated Drilling Rig-1500 model with a hook load
(capacity to lift drill string, tools etc) of 750,000 lbs, capable of drilling
to 5,000m depth with 5" drill pipe (prognosed TD of the Hussar well is
c.2,800m). The contract terms include contractor obligations, mobilisation,
main camp operations, water supply, technical support, key personnel
requirements, safety obligations and terms of Force Majeure.

 

Having received multiple responses to the Requests For Quotes issued,
Georgina's technical consultant Aztech Well Construction is reviewing
suppliers for casing, wellhead, and service company support for electric
logging, casing running and cementing, drilling fluid engineering, wellsite
geology, mudlogging and gas sampling/laboratory analysis services.

 

The Company's operations and technical consultancy teams will be travelling to
site in June 2026 to undertake inspections of the access roads repairs, ensure
site preparation, as well as the upgrades made to the airstrips, including the
supply of an authorised wind directional equipment, along with the preparation
of the drill pad and accommodation pad.

 

The pre-drill site inspections are planned along with work programs 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 drilling program and site infrastructure works required to develop Hussar
into a producing asset will be funded solely by Harlequin and their partners.

 

Following completion of the pre-drill site inspections, selected images will
be posted on the Georgina website for shareholders to view.

 

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

 

"Georgina is fully committed to the drilling and development of its wholly
owned Hussar EP513 Project and I am very pleased to have executed a contract
for the supply of an Ensign Drill rig.  The necessary preparatory planning
and civil engineering works required are soon to be underway to enable the
drill testing of this exciting prospect in Q3 2026. With 300 km(2) of areal
closure, the Hussar prospect is one of the largest subsalt Helium, Hydrogen
and Hydrocarbons prospects on-shore in Australia."

 

 

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

 Financial PR
 
georginaenergy@apcoworldwide.com (mailto:georginaenergy@apcoworldwide.com)

 Violet Wilson    +44 (0)203 757 4980
 Georgia Edmonds

 

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 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, subject to completion of the Sale Agreement Georgina Energy will
hold a 100% working interest and the Amadeus Basin is known for Helium,
Hydrogen and Hydrocarbon reservoirs with drilled  occurrences of high
concentrations of these gases (up to 9.5%, 11% and 40% respectively).

 

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, EP513 Hussar for their
potential accumulations.

 

For more information visit https://www.georginaenergy.com
(https://www.georginaenergy.com/)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  CNTEBLBLQELEBBZ



            Copyright 2019 Regulatory News Service, all rights reserved