Georgina Energy (GEX)   has received the draft Aboriginal Land Rights Agreement (ALRA) from the Central Land Council (CLC) for EPA155 at Mt Winter. The agreement is a key step towards the granting of the exploration permit and securing 100% ownership of Oilco Pty Ltd, the current tenement holder.

The ALRA is now under review by the Company. Execution is anticipated subject to approval from Traditional Landowners. Once signed by all parties, the agreement will be submitted to the Northern Territory Minister for the Department of Mining and Energy for the formal grant of the Exploration Permit.

Mt Winter is located around 70 kilometres west of the Mereenie Oil & Gas Field, which has been in production since 1984. To date, Mereenie has produced more than 16 million barrels of oil and 250 billion cubic feet of gas. Current annual production stands at 12 billion cubic feet of gas and 115,000 barrels of oil per annum.

EPA155 hosts Prospective Recoverable Resources (2U/P50) of 283 billion cubic feet of gas, including 214 billion cubic feet of helium and 1,734 billion cubic feet of hydrocarbon gas. The structure has an aerial closure exceeding 3,200 acres and targets thick Heavitree and fractured basement reservoir sections.

Meanwhile, the Amadeus Basin has demonstrated significant helium, hydrogen and hydrocarbon flows from analogous wells in the same reservoir section targeted at Mt Winter. Reported flows include up to 9% helium, 11.5% hydrogen and 40% hydrocarbon gas.

In addition, two existing wells within EPA155 will be investigated for potential re-entry as the Company advances its plans.

Georgina Energy’s Chief Executive Officer Anthony Hamilton said: “The Company is very pleased with the outcome and wishes to thank Bob Liddle (OAM), our Indigenous Consultant and the Georgina team for their tireless work in consultation with the CLC and Traditional Owners in progressing the EPA155 ALRA Agreement. Georgina looks forward to accelerating the Mt Winter prospect re-entry.”

View from Vox

The draft ALRA marks an important regulatory milestone for Georgina at Mt Winter. With proximity to a long-producing field and sizeable prospective gas and helium resources, EPA155 strengthens the Company’s position in the Amadeus Basin. Subject to final approvals, the focus now shifts to permit grant and accelerating re-entry plans.