Georgina Energy (GEX ) has provided an operational update on funding and planning for the approved Hussar EP513 drilling programme, progress towards completing the Mt Winter EP155 acquisition, and the proposed acquisition of three re-entry projects from Central Petroleum (CTP).

Hussar EP513 – drilling funding and planning

At Hussar EP513, Georgina is completing negotiations with Harlequin Energy, its preferred wellhead off-take partner, on a Joint Operating Agreement (JOA) under which Harlequin would fund the Department of Mining, Petroleum and Energy (DMPE) approved drilling programme, including logistics, planning and all site works.

Harlequin has advised that it has access to a drilling rig located in Western Australia, which will now be subject to Georgina’s review. Meanwhile, the company continues to prepare logistics for repairs at the airstrip and access roads, as well as planning the drill pad, drilling rig and crew locations and other critical elements of operational planning.

Mt Winter EP155 – ALRA agreement and funding discussions

At Mt Winter EP155, Georgina has been advised by its indigenous consultant of continued progress towards the release of the Aboriginal Land Rights (Northern Territory) Act (ALRA) agreement from the Central Land Council (CLC), which will facilitate completion of the 100% acquisition. Planning for operations remains well advanced, with the prospect re-entry programme already submitted.

In addition, the company is in discussions with multiple parties to provide funding for the re-entry under an off-take funding agreement.

Central Petroleum acquisition – Prospectus preparation and Mt Kitty upside

For the Central Petroleum acquisition, Georgina is working with its advisers to prepare a prospectus for approval by the Financial Conduct Authority (FCA). The three advanced re-entry projects – Mt Kitty, Dukas and Magee/Mahler – are described as complementary to Georgina’s existing Mt Winter and Hussar assets.

Mt Kitty previously flowed to surface at 500,000 standard cubic feet per day, with a significant concentration of 9% helium and 11% hydrogen, and also demonstrated the presence of Helium Isotope 3. The planned re-entry and 500 metre horizontal section at Mt Kitty is expected to significantly increase both the historic flow rate and contingent resources, providing a pathway to convert volumes into Proved, Probable and Possible Reserves.

Georgina Energy’s Chief Executive Officer Anthony Hamilton said: “Georgina continues to negotiate with its off-take partners to provide funding to develop both Hussar and Mt Winter, alongside advancing the potential acquisition of Mt Kitty, Dukas and Magee from Central Petroleum. In particular, we are excited by the potential that Mt Kitty offers as it could provide significant reserves to the portfolio.”

“I look forward to updating our shareholders on our progress when possible and thank them for their patience in the meantime.”

View from Vox

Georgina is trying to advance several high-impact assets in parallel, with off-take backed funding central to both Hussar and Mt Winter while it also moves the Central Petroleum transaction towards an FCA-cleared prospectus. The historic test at Mt Kitty, with meaningful helium and hydrogen (including Helium Isotope 3), gives the portfolio clear leverage if the planned re-entry and horizontal section can support higher, more stable flow rates and reserves conversion. However, progress still depends on regulatory steps and partner agreements, so investors are likely to watch closely for updates on funding deals, rig selection at Hussar and formal prospectus approval.