Hussar EP513 Drill Contract

Georgina Energy PLC

16 April 2026

 

16^th April 2026

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")

Hussar EP513 Drill Contract  

Georgina Energy Plc, GEX.L is pleased to announce that, following extensive consideration, it has executed a letter awarding Ensign Australia Pty Ltd for the proposed drilling program at Hussar EP513. The final terms remain under negotiation and will be finalised with an agreed and executed Contract for the supply of an Ensign 970 drill rig for the Hussar prospect re-entry well in EP513.

The rig is an ADR (Automated Drilling Rig)-1500 model with a hook load (capacity to lift drill string, tools etc) of 750,000 lbs and capable of drilling to 5,000m depth with 5" drill pipe (note the prognosed TD of the Hussar well is c.2,800m).

Harlequin Energy and its consultants Schlumberger Oilfield UK Limited are working closely with the Company and its Consultants for the drilling of the Hussar well and field development in a structured Offtake arrangement that is non-dilutive for Georgina shareholders.

The contractual negotiations with Ensign have been extended, requiring further review, including rig availability in Q3 2026 to drill the main subsalt reservoir targets, the Townsend Formation and the fractured Neoproterozoic basement lithologies.  Ensign and Georgina are finalising the contract terms for contractor obligations, mobilisation, main camp operations, water supply, technical support, key personnel requirements, safety obligations and terms of Force Majeure to facilitate execution of the contract. The drill program is planned for 50 days to completion subject to any changes deemed necessary as the program evolves.

The Company is planning further pre-drill site inspections along with work programs to be completed to ensure compliance with the (DMPE) approved Well Management Plan (WMP). RFQs in relation to casing, wellhead, and required service company support are ongoing.

Anthony Hamilton, Chief Executive Officer of Georgina Energy, commented:

"While negotiations with Ensign have been taking longer than previously guided, we are pleased to confirm selection of the Ensign 970 drill rig for Hussar, pending a final contract.  The Company and its consultants continue to progress the necessary preparatory planning and civil engineering works required to enable the drill testing of this exciting prospect in Q3, 2026, for which we remain on target."

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Enquiries

Georgina Energy

Tony Hamilton	via [e-mail]
Mark Wallace

Tavira Financial Ltd - Financial Adviser and Joint Broker

Jonathan Evans	[phone]
Oliver Stansfield

Financial PR via [e-mail]

Violet Wilson	[phone]
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, is located in the Amadeus Basin in the Northern Territory, subject to completion of the Sale Agreement Georgina Energy will hold a 100% working interest. Additional subsalt prospect re-entry opportunities (Mt Kitty and Dukas prospects)  into known Helium, Hydrogen and Hydrocarbon reservoirs in the Amadeus Basin in the Northern Territory with drilled  occurrences of high concentrations of these gases (up to 9.5%, 11% and 40% respectively) are expected to be acquired via imminent settlement of a Sale and Purchase Agreement with the current owners, ASX listed Central Petroleum Limited.

In line with market demand trends, Georgina Energy is well-positioned to capitalize on the growing gap between supply and demand for hydrogen and helium with the resource potential of EPA155 Mt Winter,EP513 Hussar and the Mt Kitty and Dukas projects for their potential accumulations.

For more information visit https://www.georginaenergy.com

 

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