20 February 2025
THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF (A) ARTICLE 7(1) OF UK MAR IN SO FAR AS IT RELATES TO ORDINARY SHARES ISSUED BY GEORGINA ENERGY PLC
Georgina Energy plc
("Georgina", "Georgina Energy" or the "Company")
Contract of Sale Executed for EPA155 Mt Winter
Georgina Energy Plc, GEX.L, a helium, hydrogen and natural resources development company in Australia, is pleased to announce that it has now executed the Share Sale Agreement to acquire 100% of the issued capital of Oilco Pty Ltd which holds the permit EPA155 (Mt Winter).
The Company has paid the A$50,000 deposit to Mosman Oil & Gas ("Mosman") and has executed the confidentiality agreements necessary to complete the "ALRA" (Aboriginal Land Rights Agreement) to be lodged with the Northern Territory Department of Mining and Energy ("DME") under the Petroleum Act 1984 (NT) to secure the granting of the exploration permit.
Upon the grant of EP155 by the DME, Westmarket Oil & Gas Pty Ltd, a subsidiary of the Company, will pay Mosman the balance of AU$300,000 from current cash reserves to complete the acquisition.
Mount Winter Update
The Company has engaged consultants to reprocess the seismic dataset and interpret all relevant horizons and basement details, which includes updating volumetric details and remapping the area. The Company will then submit a drilling approval application for the Mt Winter 1 re-entry.
Hussar Update
The Company is planning to complete the Environmental Impact Study 2 ("EIS2") required by DEMIRS to obtain drilling approval at the Hussar prospect in the Western Australian Officer Basin, where the Company is targeting the 350 km2 area for helium, hydrogen and natural gas. Cyclonic weather conditions with heavy rain and flooding continue to create delays in gaining safe access to site which has impacted the completion of EIS2.
Anthony Hamilton, Chief Executive Officer of Georgina Energy, commented:
"The execution of the share sale agreement to acquire 100% of the revised Mt Winter exploration permit has significant potential benefits to the Company. This deal further strengthens Georgina's portfolio and increases the potential shareholder value from this asset."
END
Enquiries
Georgina Energy
Tony Hamilton via georginaenergy@apcoworldwide.com
Mark Wallace
Tavira Financial Ltd - Financial Adviser and Joint Broker
Jonathan Evans +44 (0)20 3833 3719
Oliver Stansfield
Oak Securities - Joint Broker
Jerry Keen +44 (0)203 973 3678
Henry Clarke
Dillon Anadkat
Financial PR via georginaenergy@apcoworldwide.com
Violet Wilson +44 (0)203 757 4980
Letaba Rimell
Notes to Editors
Georgina Energy aims to become a leading player in the global energy market and is focused on establishing itself among the top producers of helium and hydrogen worldwide. With a strategic approach and leveraging the experienced management team's expertise, Georgina Energy aims to capitalize on opportunities in these critical energy sectors.
Georgina Energy has two principal onshore interests held through its wholly owned Australian subsidiary, Westmarket O&G. The first, the Hussar Prospect is located in the Officer Basin in Western Australia and Westmarket O&G holds a 100% working interest in the exploration permit. The second, the EPA155 Mt Winter Prospect, subject to the completion of the Contract of Sale anticipates the permit being granted within the next 3 months. Mt Winter is located in the Amadeus Basin in the Northern Territory, which Georgina Energy via Westmarket Oil & Gas Pty Ltd will hold a 100% working interest.
For more information visit https://www.georginaenergy.com
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