Georgina Energy Advances Mt Winter Prospect with Seismic Reprocessing Initiative

• Georgina Energy initiates seismic data reprocessing for Mt Winter Prospect within EPA155, Northern Territory
• Independent Competent Person engaged to reprocess and remap 2002 2D seismic data
• Current 75% net attributable interest may increase to 90% based on well funding
• Potential resources include 133 BCF Helium, 122 BCF Hydrogen, and 1.1 TCF natural gas
• Plans to re-enter Mt Winter 1 well and extend depth from 2,650m to 3,400m

Company Overview

Georgina Energy plc (GEX.L) is positioning itself as an emerging force in the global energy market, with a particular focus on helium and hydrogen production. The company operates through its wholly-owned Australian subsidiary, Westmarket O&G, managing two principal onshore interests: the Hussar Prospect in Western Australia's Officer Basin (100% working interest) and the EPA155 Mt Winter Prospect in the Northern Territory's Amadeus Basin (potential 75-90% interest). The company's strategic vision centres on addressing the growing supply-demand gap in both hydrogen and helium markets through the development of these key assets.

Seismic Reprocessing Initiative

Georgina Energy has announced a significant step forward in its development strategy with the commencement of seismic data reprocessing at the Mt Winter Prospect. The company has engaged an Independent Competent Person to conduct the reprocessing and remapping of 2D seismic data originally collected in 2002. This initiative forms part of the company's farm-in obligations with Oilco Pty Ltd, a Mosman Oil & Gas subsidiary, and is proceeding alongside approvals from Traditional Landowners and pending Ministerial approval.

Resource Potential & Ownership Structure

The company's prospectus previously indicated substantial resource potential, with net attributable 2U PRMS Prospective (Recoverable) Resources at a 75% interest level including:

• 111 BCF Helium (111 million MCF)
• 102 BCF Hydrogen (102 million MCF)
• 0.91 TCF natural gas

These figures could see significant enhancement if Georgina Energy secures a 90% interest by funding 100% of the first re-entry well, potentially increasing to:

• 133 BCF Helium (132 million MCF)
• 122 BCF Hydrogen (122 million MCF)
• 1.1 TCF natural gas

Mt Winter Well Re-entry Strategy

A key component of Georgina Energy's development plan involves the re-entry of the Mt Winter 1 well. Originally drilled in 1982 to a total depth of 2,650m in the Gillen Salt, the company plans to extend the well to approximately 3,400m. This extension aims to test the helium, hydrogen, and natural gas potential within the subsalt Heavitree Formation reservoir, representing a strategic approach to resource verification and development.

Operational Progress

The company is currently advancing through several crucial operational phases:

• Completion of seismic data reprocessing and re-mapping
• Preparation of a comprehensive report for partner consideration
• Finalization of a Joint Operating Agreement (JOA) with partners
• Fulfillment of obligations to secure the initial 75% registered interest

Management Perspective

CEO Anthony Hamilton has emphasised the alignment of this initiative with the company's strategy of achieving positive outcomes through well re-development. The reprocessed seismic data is expected to provide enhanced accuracy in seismic contouring and profile mapping within the Amadeus Basin permit area. Management has noted particularly favorable volumetric comparisons with peer groups and maintains focus on the re-entry of both Hussar and Mt Winter wells as part of their low-risk development program.

The Investment Thesis for Georgina Energy

Georgina Energy presents a compelling investment proposition based on several key factors:

Strategic Asset Portfolio:

• Two significant onshore prospects in established Australian basins
• High working interest percentages offering substantial exposure to success
• Potential for increased ownership through strategic investment

Market Opportunity:

• Positioning in the growing helium and hydrogen markets
• Addressing supply-demand gaps in critical resources
• Diversified resource potential including natural gas

Development Approach:

• Low-risk strategy focusing on well re-development
• Utilization of existing infrastructure and historical data
• Systematic approach to resource verification and development

Technical Foundation:

• Employment of modern seismic reprocessing techniques
• Comprehensive technical validation through independent experts
• Clear development pathway through well re-entry programs

Growth Potential:

• Significant resource volumes indicated in initial assessments
• Opportunity for resource base expansion through successful development
• Strategic positioning in emerging energy markets

The announcement demonstrates Georgina Energy's methodical approach to resource development and validation. The seismic reprocessing initiative represents a crucial step in de-risking the Mt Winter Prospect and potentially enhancing shareholder value through increased resource certainty. The company's focus on both traditional (natural gas) and emerging (helium and hydrogen) resources positions it uniquely in the energy sector. The potential increase in working interest to 90% through strategic investment in well re-entry demonstrates management's commitment to maximizing asset value. With successful execution of its development strategy, Georgina Energy could emerge as a significant player in the global helium and hydrogen markets, addressing critical supply gaps while maintaining exposure to conventional natural gas resources.