Georgina Energy (GEX) has reported its audited results for the year ended 31 January 2026, highlighting resource upgrades at both its Hussar and Mt Winter projects as the company moves towards planned drilling activity later this year.
The company said resource estimates at Hussar increased by about 20% following a re-evaluation of the asset. In addition, Georgina secured a structured off-take funding facility worth $25 million with Harlequin Energy to support drilling at the project.
Meanwhile, Mt Winter recorded a 37% resource upgrade, with estimates rising to 175.5 billion cubic feet of gas (BCFG) of helium, 160.5 BCFG of hydrogen and 1,300.5 BCFG of hydrocarbons. The company has also agreed terms to acquire 100% of the project from Mosman Oil & Gas, subject to completion.
Looking ahead, Georgina remains on track to re-enter and drill the Hussar prospect in the third quarter of 2026. The company executed a drilling contract with Ensign Australia Pty Ltd in May, while long-lead equipment orders and remaining supplier agreements are progressing.
At Mt Winter, Georgina is reviewing a draft Aboriginal Land Rights Act agreement received from the Central Land Council. Following completion of the acquisition, the company plans to submit the necessary well management, health and safety, and environmental plans to the Northern Territory regulator, with formal drilling approval expected thereafter.
Georgina Energy’s Chief Executive Officer Anthony Hamilton said: “I am pleased to present Georgina's Annual Report and Full Year Results for the year ended 31 Jan 2026. The 12 month period and the beginning of 2026 have been extremely busy for the Company and I'm pleased with the progress we are making on both our key assets of Hussar and Mt Winter. The re-entry drilling of Hussar remains on-track for Q3 2026, and I would like to thank the teams working tirelessly to keep us on track.”
“While it was agreed to not proceed the Central Petroleum acquisition, it remains my driving ambition to seek value accretive organic and inorganic opportunities for the business and our shareholders where possible, and we will continuously assess how best to prudently assign capital in order to deliver growth.”
View from Vox
Georgina enters the second half of 2026 with momentum building across both of its flagship assets. With funding secured, resource estimates upgraded and Hussar drilling scheduled for the third quarter, investors now have a series of operational milestones to watch as the company works towards unlocking value from its helium and hydrogen portfolio.