Georgina Energy PLC (LSE:GEX) has set out tangible operational progress across its helium, hydrogen and gas prospects in Australia, with groundwork at Hussar moving toward drilling and permitting milestones at Mt Winter advancing.
In Western Australia, the company has lodged all paperwork for Hussar (EP513) with the state regulator. Its well management plan was cleared in July and the environmental management plan approved on 22 October.
Final drill approval is pending. The plan is to re-enter and deepen the existing well to the Townsend formation, the main target zone, and test the fractured basement beneath for gases.
An independent inspection of the existing casing will guide the approach; if it is not sound, Georgina has identified alternative sites for a new test well and will run additional casing strings as needed.
In the Northern Territory, Georgina is awaiting an Aboriginal Land Rights Act agreement with the Central Land Council before the grant of EP155, which hosts Mt Winter. On grant, the company will complete the acquisition with a A$300,000 payment to Mosman Oil & Gas.
Pre-work is in place, including a re-entry and management plan, safety documentation and a full environmental plan.
Initial testing at Mt Winter will include the presence of helium-3, a high-value isotope cited in an independent assessment of the Amadeus basin.
Updated seismic mapping has lifted Hussar’s resource potential by about 20% and increased net attributable 2U prospective helium and hydrogen at Mt Winter by 15%, with two extra well locations identified.
Offtake talks and potential strategic partnerships remain under discussion, alongside work to embed governance and ESG frameworks.
Georgina reported an unaudited loss of £1.09 million for the half year to 31 July 2025, cash of £112,000 and borrowings of £1.61 million.
A £1 million placing at 5p in August has strengthened liquidity; further funding may be required as programmes progress.