Georgina Energy PLC (LSE:GEX) told investors it has received a new expression of interest for an offtake agreement covering helium, hydrogen and natural gas at its projects in Australia.
The proposed deal would include pre-pay financing and a structure where the off-taker pays downstream processing costs, whilst Georgina sells the raw gas at the wellhead.
The company expects the offer can allow it to recover previously sunk costs and accelerate project development.
"To be in receipt of further offtake interest adds strength our position as we continue to derisk Georgina's key projects,” chief Executive Tony Hamilton said.
"The terms of the proposed agreement are very encouraging and align with our scoping study recommendations and wellhead sales strategy.
Separately, Georgina 'in response to recent investor queries' confirmed its in-house belief, referencing a 2028 report, that the firm's Hussar project has potential for helium-3 - an isotope that's rare and was valued at more than US$70 million per million cubic feet in 2024. Helium-3 has potential uses in nuclear fusion, quantum computing, and medical imaging, the company noted.
"The potential for high levels of Helium-3 reported by Australian Energy Producers in the Amadeus Basin underscores the strategic importance of our planned re-development programme and may represent an opportunity for further value creation, with the possibility of an additional income stream subject to the success of planned flow testing," Hamilton added.