Georgina Energy (GEX) (formerly Mining, Minerals & Metals) issued an update on its Hussar well re-entry programme in the Officer Basin, Western Australia.
On August 19, 2024 Georgina said contracted Aztech Well Construction to manage the well re-entry at Hussar EP513 in the Officer Basin. The programme is expected to commence in December 2024, subject to granting of a drilling permit from DEMIRS (Australian mining regulator).
Further to that announcement, the company said today that it has lodged its Notification of Operator, Authorisation Letter, and detailed work programme with DEMIRS. GEX also said it is finalising risk assessment and contingency plans to be submitted with its drilling approval application. An independent environmental consultancy has also been contracted to complete required environmental assessments.
Meanwhile, planning for site preparation and civil works is underway, and new seismic data is being analysed to enhance pre-drilling structural mapping of the Hussar prospect.
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Georgina continues to make good progress at Hussar EP513 in the Officer Basin, Western Australia. The company aims to extend the original well drilled in 1982 to 3400m to penetrate the Townsend Formation - the subsalt target reservoir which has been assessed to host large volumes of helium, hydrogen, and natural gas. Previous exploration in the 1980s targeted oil and did not penetrate the reservoir.
Georgina has invested £6.5m over 5 years on its well-redevelopment strategy in Australia, which aims to unlock significant prospective resources of natural gas, hydrogen and helium. The Hussar contract with Aztech is a key step in this strategy. Aztech has significant experience in well management and engineering in onshore Australia, having drilled over 40 wells in the Perth Basin over the past 13 years.
Permitting for the project is moving along as planned and initial site preparations have begun. Georgina is on track to obtain its re-entry and drilling approvals from DEMIRS. GEX is completing the required process for engineering design, health and safety, and environmental approvals, as well as meeting its obligations under the native title land access agreement. Georgina aims to re-enter Hussar in 2024.
Georgina holds 100% working interest in the Hussar prospect, which is considered to be one of the most potentially lucrative resource basins in the Asia-Pacific region. Hussar hosts unrisked 2U prospective (recoverable) resources of c. 155 BCFG of helium, c. 173 BCFG of hydrogen, and c. 1.75 TCFGE of hydrocarbons.
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