Hussar EP513 Drilling/Funding

Georgina Energy PLC

26 January 2026

 

26^th January 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 Drilling/Funding

Georgina Energy Plc, GEX.L advises Harlequin Energy Ltd ('Harlequin') has formally confirmed its intention to proceed with funding for the Hussar EP513 prospect for the anticipated recovery of Helium, Hydrogen and Natural Gas.

Harlequin has given notice to proceed with funding of the drilling of the Hussar-2 well within the EP513 Lease and undertaken to complete site repairs to the airstrip and access roads, construction of drilling pads, water wells and camp location pad, in preparation for drilling as set out in the Memorandum of Understanding ("MOU") signed on 24^th August 2024. The Company has undertaken due diligence and been provided with Harlequin's USD$25 million structured offtake funding facility to finance Georgina's drilling program.

HUSSAR EP513:  Harlequin has engaged Schlumberger Oilfield UK Limited to work in conjunction with Georgina's technical consultants (Aztech Well Construction) to proceed with the planning, engineering and drilling of an exploration well at Hussar. Harlequin will fund the Hussar drill program in a structured offtake financing arrangement.

The drilling program and site infrastructure works required to develop Hussar into a producing asset will be funded solely by Harlequin and their partners in a structured offtake funding arrangement that is non-dilutive for Georgina shareholders.

The structured offtake funding arrangement is Georgina's preferred approach to financing future drilling, as it enables gas sales at the wellhead while avoiding significant capital outlay by the Company, thus making it a non-dilutive solution for shareholders.

Drilling Program

Georgina's technical consultant, Aztech Well Construction have identified four drill rigs available in Australia that meet the required specifications for the 50-day drilling program.

·      ENSIGN RIG 974

·      MINRES EXPLORER RIG

·      SAVANNA SLR RIG 186 (V4)

·      VENTIA RIG 106 IDEAL PRIME

Following an extensive consultation process with Harlequin and Georgina's technical team to agree the timeline and technical aspects of activity, the Drilling Program broadly comprises the following:

Completion Date (Calendar 2026)	Activity
Q1	Order long lead items such as wellhead/casing
	Tender & contract drilling rig. Currently 4 appropriate rigs available
Q2	Water bore(s) drilling and installation on site
	Surface conductor pipe installation comprising the first section of drill casing
	Service company tender & contract; includes cementing, mud logging, e-logging, WSG, testing contractors.
	Expand site/access roads, airstrip, drilling pad works. Inspection, planning and costing already completed.
Q3	Finalise the engineering and well design in conjunction with the drill contractor
	Mobilise drilling rig to site and all relevant service companies
	Drill to target depth, evaluate reservoir qualities, gas compositions, likely sustainable flow rates.

Under the terms of a Joint Operating Agreement ("JOA") governing the drilling program for Hussar, Harlequin, Schlumberger and Aztech will plan all site activities in line with the Government (DMPE) approved Well Management Plan (WMP) lodged by Georgina in 2025.

Aztech have finalized detailed costings for the access roads, airstrip and drilling pad installation and will shortly complete costings for long lead items including casing, a well head, airstrip repair, water well drilling and reservoir evaluation services.

The Company has also undertaken an evaluation of the Hussar prospect to determine the potential for fracture porosity enhancement of the volumetrics with a revised estimation of total 2U Prospective (Recoverable) Resources of Helium 283 BCF, Hydrogen 315 BCF and Hydrocarbons 2.9 TCF, an increase of 30%. More detailed results will be released in due course.

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

"Georgina has received confirmation of a USD$25 Million structured off-take funding facility to develop both Hussar and Mt Winter which along with the recently announced acquisitions from Central Petroleum presents the company with the opportunity to become a significant participant in the extraction of Helium, Hydrogen and Natural Gas."

END

Enquiries

Georgina Energy

Tony Hamilton	via [e-mail]
Mark Wallace

Tavira Financial Ltd - Financial Adviser and Joint Broker

Jonathan Evans	[phone]
Oliver Stansfield

Oak Securities - Joint Broker

Jerry Keen	[phone]
Henry Clarke
Dillon Anadkat

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.

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 and EP513 Hussar projects for their potential accumulations.

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

 

END