Georgina Energy PLC (LSE:GEX) CEO Anthony Hamilton recently talked with Proactive about the company’s milestone of starting to trade on the London Stock Exchange's main board.
In an interview, Hamilton shares insights into the company's journey, the significance of this achievement, and the strategic plans moving forward.
Proactive: Anthony, you've just started trading on the LSE's main board this morning. Congratulations, you got to ring the bell I understand. So another big milestone for the company.
Hamilton: Yes, Stephen, thank you very much. It was a rather momentous occasion after five years. It was a long journey, but well worth it.
Proactive: And of course, you go to the exchange after raising £5 million. So strong institutional interest in Georgina Energy. Tell us, how are you going to use that cash to take your projects forward?
Hamilton: We are targeted to complete the programme at Hussar and re-enter the well in December with the plan to bring the gas to the surface and ultimately our off-taker enter into a contract to supply the gas from the well.
Proactive: And, of course, one of the big attractions for institutional investors is the low risk aspect of your projects. Take us through that Anthony.
Hamilton: Predominantly both of our targets, seismically defined, previously drilled wells, in Australia. So the concept behind them is that obviously we are targeting extending the well, and on that basis, in the case of Hussar, we'd be extending the wells from 2040m to 3200m. And in the case of Mt Winter, from 2640m to 3400m. So essentially it's a well re-entry exercise. It's engineering rather than geology.
Proactive: So it's only now that you have started trading on the LSE. What are your first steps as a listed company?
Hamilton: Well, I have to say that the most important part is that because of the long historical significance of the LSE and its standing as an oil and gas cornerstone, it's a particularly prestigious exchange. And that in itself, as a significant value for us as Georgina. If you like, it's almost a form of validation for the company. So our plan is obviously to make sure that we deliver a significant amount of upgraded news flow over the next coming months before we drill the well. So expect to hear from us a lot. And at the same time, we will probably look to do an update here in London in about three months.
Proactive: I’m sure we will be chatting again in the near future. Tony, thank you very much for taking the time to speak with us today. And congratulations again.