Georgina Energy Announces Additional Well Re-Entry Opportunities & Operational Progress

• Georgina Energy is evaluating additional well re-entry targets in the Centralian Superbasin
• 10 priority targets identified out of 168 potential wells for re-entry and flow testing
• Confidentiality Agreement signed with an established Australian Oil & Gas company
• Hussar 1 well re-entry plans progressing, with drilling expected to commence in December
• Mt Winter prospect awaiting approval following meeting with Traditional Aboriginal Landowners

About Georgina Energy

Georgina Energy plc (GEX.L) is an innovative energy exploration and production company focused on the Centralian Superbasin in Australia. The company specializes in identifying and developing high-potential targets for helium, hydrogen, and natural gas extraction through well re-entry and development programs. With a commitment to sustainable practices and cutting-edge technology, Georgina Energy aims to become a significant player in the alternative energy sector while contributing to Australia's energy security.

Expanding Horizons: New Well Re-Entry Opportunities

In a recent announcement, Georgina Energy has revealed exciting progress in its evaluation of additional high-potential targets for its well re-entry and development program. The company's technical team is casting a wide net, exploring opportunities within the vast Centralian Superbasin, which includes the Amadeus and Officer Basins. This expansive area, covering 2 million km² of Neoproterozoic to Cambrian sediments, holds significant promise for recovering substantial volumes of helium, hydrogen, and natural gas.

The company's meticulous evaluation process has yielded impressive results. Out of 168 currently plugged and abandoned wells, Georgina Energy has identified 10 priority targets that meet its stringent cost and risk criteria for re-entry and flow testing. This careful selection process demonstrates the company's commitment to strategic growth and responsible resource development.

To further strengthen its position and expertise, Georgina Energy has executed a Confidentiality Agreement with a well-established, producing Australian Oil & Gas exploration and production company. This partnership could prove invaluable as Georgina Energy moves forward with its expansion plans, potentially providing access to additional resources, expertise, and industry insights.

The company's CEO, Anthony Hamilton, expressed enthusiasm about these developments, stating, "While our main focus is the commencement of drilling at Hussar before year end, for which we are fully financed, and the award of the Mt Winter Exploration Permit, we are excited about the possible additions of complementary well re-entry projects."

Core Activity Update: Hussar & Mt Winter Prospects

While exploring new opportunities, Georgina Energy remains committed to advancing its core assets, the Hussar and Mt Winter prospects.

Hussar Prospect

The company has sought approval to re-enter the Hussar 1 well, with plans to extend its original depth from 2040 meters to approximately 3400 meters. This ambitious project aims to penetrate the subsalt Townsend Formation, which is analogous to the helium, hydrogen, and gaseous hydrocarbon-bearing Heavitree formation in the Amadeus Basin. In line with previous guidance, Georgina Energy expects drilling operations to commence in December, marking a significant milestone in the company's development.

Mt Winter Prospect

Progress at the Mt Winter prospect hinges on the outcome of a crucial meeting with Traditional Aboriginal Landowners for EPA155 Mt Winter, scheduled for September 11, 2024. Pending approval following this meeting, Georgina Energy remains on target to re-enter and deepen the well to penetrate the subsalt Heavitree formation. This operation will test for the presence of helium, hydrogen, and natural gas, potentially unlocking significant value for the company and its shareholders.

Strategic Partnerships & Agreements

In a move that underscores the company's forward-thinking approach, Georgina Energy has extended its off-take Memorandum of Understanding (MOU) with Harlequin Energy Limited for an additional 12 months. This non-exclusive agreement provides Georgina Energy with a potential pathway to market for its future production while allowing the flexibility to engage in discussions with other parties. This strategic positioning ensures that the company can optimize its commercial opportunities as it moves closer to production.

The Investment Thesis for Georgina Energy

For investors seeking exposure to the dynamic alternative energy sector, Georgina Energy presents a compelling investment opportunity. Here's why:

• Strategic Focus on High-Value Resources: Georgina Energy's emphasis on helium, hydrogen, and natural gas positions it at the forefront of the transition to cleaner energy sources. Helium, in particular, is a critical resource with applications in healthcare, technology, and aerospace industries, facing supply constraints and growing demand.
• Low-Risk, High-Reward Strategy: By focusing on well re-entry opportunities, Georgina Energy minimizes exploration risks and capital expenditure typically associated with new drilling projects. This approach allows for faster time-to-market and potentially higher returns on investment.
• Diversified Portfolio: With its core Hussar and Mt Winter prospects, plus the evaluation of 10 additional high-potential targets, Georgina Energy offers investors exposure to a diversified portfolio of assets within the resource-rich Centralian Superbasin.
• Strong Partnerships: The company's Confidentiality Agreement with an established Australian Oil & Gas company and its MOU with Harlequin Energy Limited demonstrate its ability to form strategic alliances that can accelerate growth and create value.
• Fully Financed Near-Term Catalysts: Georgina Energy is fully financed for its upcoming drilling at the Hussar prospect, reducing the risk of near-term dilution for investors. The commencement of drilling in December 2024 serves as a significant potential catalyst for the stock.
• Experienced Management: Led by CEO Anthony Hamilton, the company boasts a management team with a track record in the energy sector, crucial for navigating the complexities of resource exploration and production.

Actionable Advice for Investors

• Consider initiating a position in Georgina Energy (GEX.L) ahead of the December 2024 drilling commencement at Hussar, which could serve as a significant catalyst for the stock.
• Monitor news regarding the approval of the Mt Winter prospect following the September 11 meeting with Traditional Landowners, as positive outcomes could further de-risk the company's portfolio.
• Keep an eye on announcements regarding the selection of additional well re-entry targets, as these could significantly expand the company's resource potential.
• Evaluate the company's progress in securing additional off-take agreements or partnerships, which could provide long-term revenue visibility.
• Consider Georgina Energy as part of a diversified portfolio allocation to the alternative energy sector, balancing its potential upside with the inherent risks of early-stage resource companies.

Key Takeaways

Georgina Energy's latest update reveals a company on the cusp of significant growth and development. The expansion of its well re-entry opportunities in the Centralian Superbasin demonstrates a strategic approach to resource development, leveraging existing infrastructure to minimize costs and risks. The progress on core assets, particularly the imminent drilling at Hussar, positions the company for potential near-term catalysts that could drive shareholder value.

The execution of a Confidentiality Agreement with an established industry player hints at potential collaborations or knowledge-sharing arrangements that could accelerate Georgina Energy's development. Meanwhile, the extension of the off-take MOU with Harlequin Energy ensures a potential route to market for future production while maintaining flexibility for negotiations with other parties.

As Georgina Energy advances its projects and evaluates new opportunities, it stands at the intersection of traditional energy expertise and the growing demand for alternative energy resources. The company's focus on helium, hydrogen, and natural gas aligns with global trends towards cleaner energy sources and critical materials for high-tech industries.

For investors, Georgina Energy offers exposure to a unique blend of resources with significant growth potential. However, as with any early-stage resource company, careful consideration of the risks and potential rewards is essential. With several updates expected in the coming weeks and the commencement of drilling at Hussar on the horizon, Georgina Energy is a company to watch closely in the alternative energy space.