Georgina Energy (GEX ) has executed a Memorandum of Understanding (MOU) with Halo Capital Investments for an offtake agreement covering helium, hydrogen and natural gas from the Hussar and Mt Winter projects in Australia. The MOU grants Halo a 12-month non-exclusive option over 100% of production, with exclusivity triggered by proof of funds and a formal contract.
The structure supports Georgina’s wellhead sales strategy. Westmarket Oil & Gas can sell raw gas at the wellhead on commercial terms, while the off-taker will fund, build and operate processing facilities, including separation and cryogenic purification. Halo will also manage storage, transport and export logistics, including trucking helium to Darwin, and converting ammonia to hydrogen.
The MOU provides for pre-pay financing and optional funding to accelerate development, alongside recovery of Georgina’s sunk costs. Westmarket is required to deliver completed flow tests defining gas volumes and composition. Following receipt, the off-taker will undertake a detailed review to finalise commercial terms.
On permitting, the Department of Mining, Petroleum and Exploration has confirmed all lodgement requirements for Hussar EP513 are complete and accepted. Final drilling approval is pending, after which site access works will begin, including airstrip repairs, road access, and construction of drilling, camp and water infrastructure.
“Georgina now has two off-take agreements in place, which provide a clear step towards commercialisation of the company's assets and further support of its wellhead sales strategy,” said Georgina’s Chief Executive Anthony Hamilton.
“With the imminent granting of the Hussar drilling permit and the completion of the 100% acquisition of the Mt Winter project, the Company is in a strong position for future growth.”
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The MOU shifts processing costs to the off-taker and supports Georgina’s wellhead sales plan, putting the company on a clearer path to commercialisation as Hussar permitting completes.