Georgina Energy (GEX) has moved a step closer to drilling its flagship Hussar prospect in Western Australia after the water well contractor mobilised to site ahead of the planned Q3 2026 exploration programme.
The water wells will support the Ensign 970 drilling rig, which remains on schedule to mobilise once the water supply is established. The company said the 50-day drilling campaign remains on track to begin during the third quarter of 2026.
The Hussar well will target subsalt reservoir formations, including the Townsend Formation and fractured Neoproterozoic basement, in search of helium, hydrogen and natural gas. Georgina plans to drill the well to a depth of about 3,200 metres.
Importantly, the drilling programme and associated site infrastructure will be fully funded by Harlequin and its partners, reducing Georgina's funding requirements as the project progresses.
Preparatory work continues across the site, including regulatory inspections and coordination with contractors to ensure drilling equipment, casing, wellheads and specialist services arrive on schedule. The work supports compliance with the approved Well Management Plan submitted by the company's operating subsidiary.
Hussar is located within exploration permit EP513 in the Officer Basin and hosts independently certified 2U prospective resources of 285 billion cubic feet of helium, 315 billion cubic feet of hydrogen and 2.93 trillion cubic feet of natural gas.
“Georgina remains committed to the drilling and development of its wholly owned Hussar EP513 Project,” said chief executive Anthony Hamilton.
“We are pleased with progress to date in support of the drill rig mobilisation for the Ensign 970 drill rig and supporting service contractor equipment. The preparatory planning and civil engineering works required are progressing in order to enable the drill testing of this exciting prospect in Q3 2026. With 300 square kilometres of areal closure, the Hussar prospect is one of the largest subsalt helium, hydrogen and hydrocarbon prospects onshore in Australia.”
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The latest update keeps Georgina's flagship drilling programme firmly on schedule and marks another operational milestone ahead of the highly anticipated Hussar well. With drilling fully funded by its farm-in partner and mobilisation progressing as planned, investors can now look towards the start of drilling in Q3 as the next major catalyst for the company.