Georgina Energy PLC (LSE:GEX) told investors it has entered into a confidentiality agreement with a "well-established Australian-listed oil and gas exploration and production company" in relation to its well re-entry programme.
The company, in a statement, said that earlier this month it reached out to various parties to determine interest in either a farm-out or direct interest in its projects.
Now, it has entered into confidential talks with one such party. The purpose of the agreement is to evaluate the potential acquisition or farm-out of certain permits.
"The execution of this agreement with a well-established production company with Australian onshore gas assets and significant acreage, provides Georgina with exciting potential opportunities for growth following the development of Hussar and Mt Winter,” chief executive Anthony Hamilton said.