Georgina Energy (GEX) , Australia-focused natural resources explorer, issued an update on its core asset EPA155 Mt Winter in the Amadeus Basin, Northern Territory, Australia, targeting significant deposits of natural gas, hydrogen and helium.
Georgina reported steady progress on the EPA155 permitting process, specifically the ALRA agreement required for the Northern Territory government to grant the Mt Winter priority area to GEX. The group noted "no major impediments" as the Central Land Council moves toward delivering the agreement's first draft.
The ALRA agreement will cover the Mt Winter-1 well reentry program, along with two additional historical wells on EPA155, both under active review for sequential reentry potential. In parallel, recent reprocessing of existing seismic data has significantly expanded the prospective resource target area within EPA155, resulting in a 38% increase in 2U/P50 recoverable resources.
Once finalised, the ALRA agreement will also allow GEX to complete its 100% acquisition of the Mt Winter tenement from Mosman Oil & Gas, announced in early 2025.
Anthony Hamilton, CEO of Georgina Energy, commented: "The Company remains confident in finalising the ALRA agreement, which will include the decision to accelerate the Mt Winter re-entry. While the new Mereenie production agreement has caused a brief delay, we continue to work in partnership with the CLC and the Traditional Owners to expedite an agreement and unlock the expanded potential of EPA155.
Alongside this, following submission of our revised Environmental Management Plan also look forward to providing further updates regarding drilling permit approval at Hussar EP513."
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Georgina continues to advance permitting and preparations for its core asset, the EPA155 Mt Winter in the Amadeus Basin, Northern Territory, Australia. Permitting is in the final stages, with the ALRA agreement - the last remaining step - expected to be finalised shortly.
Georgina recently announced a 38% upgrade in net 2U/P50 recoverable resources at Mt Winter, based on 100% ownership of the asset, reflecting GEX's pending acquisition of EPA155 from Mosman announced in early 2025. The upgrade put Mt Winter's unrisked 2U/P50 recoverable resource at 234 bcfg helium, 214 bcfg hydrogen, and 1,734 bcfg hydrocarbons net to GEX. This built on a previous 20% resource upgrade from May 7, 2025.
Additionally, a new 60km2 structural closure was identified at Mt Winter, offering significant potential to find new targets and boost future production. In addition to Mt Winter-1, two other wells drilled in EPA155 are currently under review for their respective sequential reentry potential.
As mentioned, in early 2025 GEX announced the acquisition of the remaining 25% interest in EPA155 from Mosman Oil & Gas, bringing the group's entire Australian portfolio under 100% ownership. The deal remains on track for completion and should accelerate the Mt Winter-1 well reentry program significantly following finalisation of ALRA and drill approval.
While Georgina is still in the pre-revenue phase, it has made substantial progress over the past year in de-risking its assets in Australia and advancing toward drill-ready status. With a focus on launching its maiden drilling campaign at EP513 Hussar, alongside the Mt Winter-1 well reentry program, the company is poised to unlock significant value over the next year.
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