Georgina Energy Pushes Ahead with Permitting & Additional Targets Despite Weather Setbacks

• Georgina Energy, a helium, hydrogen and natural resources development company in Australia, is advancing its flagship Hussar EP513 and Mt Winter EPA155 projects.
• An expanded Environmental Impact Report is required for Hussar EP513 due to a 50 km² increase in the structural closure, with submission expected in 60 days.
• The scoping study for a proposed gas separation and purification plant at Hussar is undergoing revisions, with an updated draft expected in February 2025.
• Negotiations are underway for the ALRA agreement required for EPA155 ratification, while a resource potential review is expected in March 2025.
• Georgina Energy is progressing farm-in agreement negotiations with two listed parties for additional high-potential targets.

Georgina Energy Plc is an Australia-based company focused on the development of helium, hydrogen, and natural resources. The company's primary assets include the Hussar EP513 project and the Mt Winter EPA155 project. Georgina Energy is committed to unlocking the significant value potential of its assets while navigating operational challenges.

Hussar EP513 Project Update

Environmental Impact Report & Drilling Permit

The Hussar EP513 project has seen an expansion of the structural closure to approximately 350 km², representing a 50 km² increase. As a result, Georgina Energy and its consultants are required to submit a revised Environmental Impact Report (EIR) to the Department of Energy, Mines, Industry Regulation and Safety of Western Australia (DEMIRS). This expanded EIR will reflect the additional development opportunities within the field and the enhanced scope of future field development.

The completion of the expanded EIR and subsequent submission of the permit application to DEMIRS is expected to take approximately 60 days. The existing heritage report will remain unchanged and will be used for the submission. Georgina Energy remains confident that drilling approval will be granted upon submission of the final application.

Scoping Study

Georgina Energy has reviewed the initial draft of the scoping study for Hussar, which includes capital and operating cost estimates along with sensitivity analysis for the proposed gas separation and purification plant. The plant will be owned and operated by the offtake group. A revised and updated draft of the scoping study is expected in February 2025.

Mt Winter EPA155 Project Update

ALRA Agreement

Georgina Energy is currently negotiating the final draft of the Aboriginal Land Rights Act (ALRA) agreement, which is required for the ratification of EPA155 by the Northern Territory Minister for the Department of Mining and Energy.

Resource Potential Review

Independent consultants are currently reviewing the resource potential of the Mt Winter project, incorporating reprocessed and re-mapped 2D seismic data. A final report is expected in March 2025. Additionally, the company is preparing a draft Joint Operating Agreement for review and approval by farm-in partners.

Additional Targets & Farm-In Agreements

Georgina Energy continues to focus on additional targets with advanced prospects and proven high concentrations of helium, hydrogen, and hydrocarbons for post-Hussar and Mt Winter development. The company is progressing negotiations with two listed parties under Confidentiality Agreements. Georgina Energy's consultants have completed reviews and submitted recommendations, and any conditional binding farm-in agreements will be subject to successful negotiations.

Navigating Weather Challenges

Despite unforeseen weather conditions and the need for revisions to the Environmental Impact Report, Georgina Energy remains systematically focused on unlocking the significant value potential of its assets. The temporary shift in timeline does not alter the company's long-term vision or strategy, and management remains confident in achieving their objectives at Hussar and Mt Winter.

Key Takeaways

Georgina Energy continues to make progress on its flagship Hussar EP513 and Mt Winter EPA155 projects, despite facing challenges from adverse weather conditions. The company is actively working on securing the necessary approvals, conducting scoping studies, and negotiating potential farm-in agreements to unlock the value of its assets.

Investors should keep a close eye on Georgina Energy's progress as it navigates these challenges and works towards achieving its long-term objectives. The company's focus on helium, hydrogen, and natural resources aligns with the growing demand for clean energy solutions. As Georgina Energy continues to advance its projects and secure additional high-potential targets, it may present an attractive opportunity for investors seeking exposure to the energy sector in Australia.