15% Increase of Helium & Hydrogen Resources at Mt Winter: Georgina Energy's Gas Portfolio Expansion

• Georgina Energy has achieved a 15% increase in net attributable 2U Prospective Recoverable Resources of helium and hydrogen at its Mt Winter Prospect, alongside a 3% increase in natural gas resources following seismic data reprocessing.
• The company has identified a new 60km² structural closure northeast of the Mt Winter-1 well, representing a significant additional drilling target for future development programs.
• Georgina is progressing permit negotiations for EPA155 and expects to hold 100% working interest upon completion, with plans to re-enter the Mt Winter-1 well and extend drilling to approximately 2,900 meters.
• At the Hussar project, the company has submitted key regulatory documents to DEMIRS and identified a secondary target within an expanded 350km² structural closure, an increase of 50km² from previous mapping.
• The company is advancing negotiations for additional advanced prospects with proven gas occurrences containing high concentrations of helium, hydrogen, and hydrocarbons, positioning for post-Hussar and Mt Winter development.

Georgina Energy plc (LSE:GEX) is a helium, hydrogen, and natural gas development company focused on low-risk projects in Australia. The company operates through its subsidiary Westmarket Oil & Gas Pty Ltd and maintains a portfolio of exploration permits targeting unconventional gas resources. Georgina's strategy centers on re-entering and developing existing wells with proven hydrocarbon occurrences, offering investors exposure to the growing helium and hydrogen markets while leveraging established infrastructure and geological data.

Mt Winter Resource Upgrade Delivers Strong Returns

The Mt Winter Prospect within EPA155 in the Northern Territory has delivered substantial resource increases following comprehensive seismic reprocessing and re-mapping conducted by Independent Competent Person Mr Maki Petkovski. The updated analysis, which builds on the May 2024 Competent Person's Report by Al Maynard & Associates, demonstrates the significant value creation potential from applying modern interpretation techniques to existing geological data.

At the assumed 75% working interest level, the revised estimates show net attributable 2U Prospective Recoverable Resources of 128 BCF helium, 117 BCF hydrogen, and 0.94 TCF natural gas. These figures represent meaningful increases from the previous CPR estimates of 111 BCF helium, 102 BCF hydrogen, and 0.91 TCF natural gas.

The resource potential could expand further upon completion of permit negotiations. Subject to Georgina funding 100% of the first re-entry well, the company's net attributable interest may increase to 90%, resulting in potential resources of 133 BCF helium, 122 BCF hydrogen, and 1.1 TCF natural gas.

In a news release, CEO Anthony Hamilton emphasized the significance of these results, stating:

"We are very pleased with this outstanding 15% increase (helium & hydrogen) to the recoverable resources in our Mt Winter asset, as well as the identification of a second larger target structure within our existing permit area which could provide significant potential to increase the resource."

New Structural Discovery Expands Development Opportunities

The seismic reprocessing program has identified a large structural high covering up to 60km² northeast of the Mt Winter-1 well. This discovery represents a significant additional closure that could serve as a future drilling candidate, subject to further seismic evaluation. The identification of this structure demonstrates the exploration upside potential within Georgina's existing permit areas and suggests that additional resources may be discovered through systematic application of modern geological techniques.

The original Mt Winter-1 well, drilled in 1982 to 2,650 meters in the Gillen Salt, will be re-entered and deepened to approximately 2,900 meters to test the targeted helium, hydrogen, and natural gas potential in the subsalt Heavitree Formation reservoir. This approach leverages existing infrastructure while accessing deeper, potentially more prospective geological intervals.

Permit Status

Georgina continues to advance regulatory approvals across its portfolio. For EPA155, the company has executed necessary Confidentiality Agreements and is negotiating the Aboriginal Land Rights Agreement (ALRA) to be lodged with the Northern Territory Department of Mining and Energy under the Petroleum Act 1984. Upon completion, Georgina will hold a 100% working interest in EPA155.

Hamilton provided an update on regulatory progress, commenting:

"We anticipate receiving the grant of the exploration permit and are working well with the regulators of the NT DME. 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."

At the Hussar project under permit EP513, Westmarket has submitted critical regulatory documents to the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS), including the Well Management Plan, Drilling Application, and Well Activity Application. The company has also received the Report of Archaeological and Ethnographic Work Program Survey and completed a revised Environmental Impact Report incorporating a significantly larger area.

Hussar Project Advances with Expanded Resource Target

The Hussar project has benefited from similar seismic reprocessing efforts, resulting in the identification of a secondary target within a significantly expanded structural closure of approximately 350km². This represents an increase of 50km² from previous mapping and remains entirely within the EP513 exploration license area.

Georgina has identified suitable drilling equipment for the Hussar re-entry program, including the Ensign 970 Rig with a 10M BOP system. Detailed engineering work has been completed for the well re-entry and development program, positioning the company to commence operations upon receipt of drilling approval.

The company is working closely with DEMIRS and Traditional Owners to secure drilling approval and has lodged formal notice with the Central Desert Native Title Services regarding planned repairs to the Hussar airstrip and access roads.

Strategic Portfolio Expansion

Beyond its core Hussar and Mt Winter assets, Georgina is progressing negotiations for additional advanced prospects with proven drilled occurrences of gas containing high concentrations of helium, hydrogen, and hydrocarbons. These potential targets are planned for re-entry and development following completion of work at Hussar and Mt Winter.

Hamilton outlined the company's broader strategic approach:

"Georgina continues to be focused on multiple workstreams to fulfil obligations for the Hussar drilling permit approval and completion of the Mt Winter acquisition along with implementing preparation of the re-entry plans for Mt Winter and completion of the ALRA agreement with the CLC and the Traditional Owners. Concurrently, we have completed the evaluation of additional re-entry targets which will shape our post-Hussar and Mt Winter work programme."

For Investors

Georgina Energy presents investors with exposure to the growing helium and hydrogen markets through a portfolio of low-risk re-entry projects in Australia. The company's strategy of acquiring and developing existing wells with proven hydrocarbon occurrences reduces geological risk while leveraging established infrastructure and historical data.

The recent resource upgrades at Mt Winter, combined with expanded structural targets at both Mt Winter and Hussar, demonstrate the potential for value creation through systematic application of modern geological techniques to existing assets. The identification of additional prospects suggests further portfolio expansion opportunities.

For investors considering Georgina Energy, the company offers a focused approach to unconventional gas development in a stable regulatory environment, with near-term catalysts including permit approvals and commencement of re-entry operations. The combination of resource growth, regulatory progress, and strategic portfolio expansion positions the company for potential value creation as helium and hydrogen markets continue to develop.