Georgina Energy Advances Drilling Approvals and Resource Development Across Australian Energy Assets

• Georgina Energy has received partial drilling approvals from Western Australian regulators for its Hussar EP513 project, with final approval anticipated following submission of additional technical documentation.
• The company reported a 20% resource upgrade at Hussar alongside a 50km² expansion of the exploration area, strengthening the project's commercial potential for helium, hydrogen, and hydrocarbon production.
• Terms have been agreed to acquire 100% of the Mt Winter EPA155 prospect from Mosman Oil & Gas, pending completion of regulatory approvals including Aboriginal Land Rights Act agreements.
• Following a successful reverse takeover and £5 million capital raise in July 2024, the company maintains a cash position of £1.2 million to fund ongoing development activities.
• The company is progressing negotiations for additional re-entry targets with proven gas occurrences containing high concentrations of helium, hydrogen, and hydrocarbons.

Georgina Energy is an early-stage resource company focused on establishing itself among the top producers of helium and hydrogen worldwide. Through its wholly owned Australian subsidiary Westmarket Oil & Gas, the company holds interests in two principal onshore projects: the Hussar Prospect in Western Australia's Officer Basin and the Mt Winter Prospect in the Northern Territory's Amadeus Basin. The company's strategy centers on actively pursuing exploration, commercial development, and monetization of helium, hydrogen, and hydrocarbon interests in these strategic Australian basins.

Hussar Project Drilling Approvals Progress

Georgina Energy has achieved significant regulatory milestones for its flagship Hussar EP513 project in Western Australia. The company's subsidiary Westmarket Oil & Gas received approvals from the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) for Application STP-EPS-0482 for Suspension and Extension and Application STP-EPV-0202 permit year 2 variation to minimum work program, both approved under section 97 of PGERA67.

However, DEMIRS has requested additional information for the Hussar Well Management Plan to support the drilling approval application within the expanded EP513 target area. The required documentation includes casing design and program details, as well as management protocols for formation materials brought to surface during drilling, well testing, or production operations.

In the news release, Chief Executive Officer Anthony Hamilton commented on the regulatory progress:

"Georgina continues to focus 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."

The company anticipates that once the additional technical information is provided and assessed, DEMIRS will issue the requested drilling approval pursuant to regulation 13(1)c of the Resource Management and Administration Regulations. Following approval, Georgina plans to undertake repairs at the Hussar airstrip and access roads, while beginning construction of drilling and camp location pads together with water wells.

Mt Winter Acquisition and Development

A significant development for the Hussar project came through a commissioned resource upgrade study, which delivered substantial improvements across key commodities. The study resulted in an overall increase of approximately 20% across the main resources: 196 BCFG Helium, 218 BCFG Hydrogen, and 2,030 BCFG Hydrocarbons. This resource enhancement was accompanied by an expansion of the exploration footprint by approximately 50km², providing additional future well target sites.

The technical advancement extends beyond resource quantification. An independent qualified consulting group completed a scoping study confirming the viability of commercial gas field development at Hussar, with capability to produce helium, hydrogen, LNG, and argon. This technical validation supports the company's strategy of selling raw gas at the wellhead through executed non-binding off-take agreements, potentially mitigating infrastructure cost exposure.

Chairman Peter Bradley emphasized the strategic positioning:

"Our asset portfolio is strategically located in a region with supportive infrastructure and growing demand, offering a strong potential pathway to commercialization."

Georgina Energy has agreed terms to acquire 100% of the share capital of the company holding a 100% working interest in Mt Winter EPA155 from Mosman Oil & Gas. The acquisition represents a strategic expansion of the company's resource base in the Northern Territory's Amadeus Basin.

The Mt Winter project has demonstrated encouraging technical progress through seismic reprocessing, which identified a 15% increase in helium and hydrogen resources. Additionally, the reprocessing revealed a further 60km² structural closure, significantly expanding the prospect's potential. The identification of a second larger target structure within the license area offers substantial future potential to increase production capacity.

Hamilton noted the acquisition's importance: "Concurrently, we have continued negotiations for the additional re-entry targets with further announcements to follow."

The completion of the Mt Winter acquisition remains subject to receiving the Aboriginal Land Rights Act Agreement from the Central Land Council, which the company expects imminently. Following this approval, Georgina will submit a Well Management Plan, detailed HSE plan, and comprehensive Environmental Management Plan to the Northern Territory Department of Mining and Energy.

Financial Position and Capital Structure

Following the successful reverse takeover of Mining, Minerals and Metals PLC in July 2024, Georgina Energy raised gross proceeds of £5.0 million and secured readmission to the London Stock Exchange under the ticker GEX. The capital raise was strongly supported by both institutional and retail investors, providing essential funding for the company's drilling programs and operational activities.

As of the period ended 31 January 2025, the company maintained a cash balance of £1.2 million. This financial position reflects the company's commitment to prudent capital management while ensuring adequate resources to advance core technical and regulatory workstreams.

From the company's 2025 Audited Final Results, Bradley highlighted the financial stewardship approach:

"Throughout the period, we managed our capital prudently, ensuring that funds were deployed effectively to advance core technical and regulatory workstreams while keeping our cost base lean."

The company has also completed filing of its FY2025 audited results and is working to format the accounts into iXBRL format for filing with the National Storage Mechanism. This administrative milestone is expected to facilitate the lifting of the current trading suspension by the Financial Conduct Authority.

Strategic Outlook and Development Pipeline

Looking forward, Georgina Energy is positioning itself to capitalize on growing demand for helium and hydrogen in global energy markets. The company's dual-asset strategy provides multiple pathways to production, with both Hussar and Mt Winter projects advancing through different stages of development.

For the Hussar project, the company anticipates formal drilling approval within weeks following successful submission of required documentation to DEMIRS. Subject to formal approval, management plans to order long lead items and secure drilling contractors to advance the project toward its maiden drilling campaign.

The Mt Winter development pathway involves submitting comprehensive technical and environmental documentation to Northern Territory regulators following completion of the acquisition. The project's expanded resource potential through seismic reprocessing adds significant upside to the company's resource base.

Hamilton emphasized the multi-project approach: "The Company is progressing negotiations following the completion of a detailed review for potential advanced prospects with proven drilled occurrences of gas with high concentrations of helium, hydrogen and hydrocarbons under relevant Confidentiality Agreements."

Market Position and Industry Context

Georgina Energy operates in the emerging helium and hydrogen sectors, which are experiencing growing demand driven by technological applications and energy transition initiatives. The company's Australian assets benefit from supportive regulatory frameworks and established infrastructure, providing advantages for commercial development.

The company's strategy of selling raw gas at the wellhead through off-take agreements differentiates it from traditional gas operators who invest heavily in processing and storage infrastructure. This approach potentially reduces capital requirements and operational complexity while transferring downstream responsibilities to off-take partners.

Bradley noted the market positioning, "We remain confident in the long-term demand for natural gas, particularly as a key enabler of energy transition in both domestic and regional markets."

Investment Considerations

For investors evaluating Georgina Energy, several key factors warrant consideration. The company has demonstrated technical progress through resource upgrades and regulatory advancement, while maintaining disciplined capital management. The dual-asset portfolio provides diversification across different Australian basins and regulatory jurisdictions.

Bradley concluded, "2025/26 financial year will be pivotal for Georgina Energy, and I look forward to updating you on our progress as we take the next steps in our journey."

The successful completion of the Mt Winter acquisition and receipt of final Hussar drilling approvals represent key near-term catalysts that could unlock significant value creation opportunities for shareholders willing to accept the inherent risks of early-stage resource development.