Hussar EP513 Mobilisation Update

Georgina Energy PLC

28 October 2026

 

28 October 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 Mobilisation Update  

Georgina Energy Plc, (LSE: GEX.L), a helium, hydrogen and natural gas exploration and development company with strategic permits in Australia, advises that it is currently working with Ensign Energy Services on a plan for mobilising the Ensign Rig 970 to site. The company has completed all civil engineering, and site works to facilitate drilling with all contractors having demobilised from site with their equipment.

Ongoing road closures to heavy vehicles and variable weather continue to pose a problem for the Ensign 970 Drill rig. Following discussions with Ensign Energy Services and Georgina Energy the following plan  is now under consideration and subject to road closures being lifted. .

1.      Ensign 970 Rig Reactivation works and ordering of required items on current Waylering location – 4-5 weeks

2.      Mobilisation of Camp from Port Augusta, SA to site – to be completed concurrently with item 1

3.      Mobilisation of Rig to Hussar Site via agreed route – 3 weeks

4.      Rig Up Ready to Spud on Hussar Location – 1 -2 weeks

The estimated timeline is anticipated to be an 8–10-week timeline from when formal notification by Westmarket Oil & Gas to Ensign to commence mobilisation activities.

The Mobilisation Fees will incur some additional cost increases which will be allocated between Ensign and Westmarket. Specifically:

1.      Reactivation costs due to extended stacking of the rig; and

2.      Delta in transport cost from ECS. ECS have advised that there are some cost increases from the initial transport cost estimate due primarily to:

a.       The revised Route Survey from August/September, with ECS requiring additional transport equipment and having to undertake an extended route; and

b.       Fuel price increases.

The Mobilisation is dependent on the road access from the Ensign rig’s current location to Hussar The Company’s Consulting Engineers and advisors  www.aztechwc.com.au and www.ingenua.com.au are both working on access for the Ensign 970 Rig to site via alternative routes. WMOG and its consultants are reviewing the suitability of an alternative route via Leonora along the Great Central Road then north along the David Carnegie Highway to the Mangkili turnoff and then north along the Eagle Highway.

The delays in mobilising the Ensign Rig 970 to site caused by adverse weather conditions and road closures to heavy vehicles will be resolved with the Company ensuring the safety of all personnel and equipment as the priority.

The Hussar EP513 prospect granted drilling Exploration Permit 513 in the Officer Basin in Western Australia is primarily targeting subsalt reservoir formations, including the Townsend Formation and fractured Neoproterozoic basement lithologies, for helium, hydrogen and natural gas and is planned to drill to a Total Depth of approximately 3,200m which may be extended depending on gas occurrences and reservoir quality. Globally, fractured basement reservoirs similar to that targeted in the Hussar Prospect, have proven to be prolific producers. The Bach Ho field in fractured basement offshore Vietnam for example, at its peak produced 1.6 BCFGE (billion cubic feet of gas equivalent) per day and has been in continuous production for over 40 years. (https://www.saltworkconsultants.com/downloads/Bach_Ho_Cuong_Warren_09.pdf)

A secondary target is the hydrocarbon gas potential in the Kanpa and Hussar formations overlying the primary subsalt targets. These formations have not been adequately tested to date but have shown excellent porosities and hydrocarbon shows during previous drilling.

The Hussar prospect has an Independent Geological Report dated 1st February 2026 by Competent Person Mr Maki Petkovski certifying unrisked SPE PRMS (the Society of Petroleum Engineers and Petroleum Resource Management Systems) net attributable 2U Prospective Resources of 283 BCF helium, 315 BCF hydrogen and 2.93 TCF of hydrocarbon gas.

Based on the pricing of Helium US$450/MCFG and Hydrogen US$2.65/kg and US$8/MCF for hydrocarbon gas, these volumes would equate to a total potential combined net attributable unrisked potential in-situ value of c.US$152 billion.  These are estimates in-situ values from the AER (Australian Energy Regulator) and HNT (Helium Price Index) developed by the Company based on unrisked prospective resources; they exclude production, separation and transport-to-market costs, and there is no certainty that any part of these resources will be commercially recovered.

Further updates will follow as we progress towards a revised spud date along with additional site photos which can be viewed by shareholders on the Georgina website.

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

“The Company is working with Ensign to facilitate mobilisation as quickly as possible and we anticipate that road closures due to unseasonal weather conditions will be overcome with careful planning and drilling Hussar for its Helium and Hydrogen potential into a full field development remains our priority target. We look forward to making further announcements in due course”.

ENDS

Enquiries

Georgina Energy

Tony Hamilton	via [e-mail]
Mark Wallace

Tavira Financial Ltd - Financial Adviser and Joint Broker

Jonathan Evans	[phone]
Oliver Stansfield Clear Capital - Joint Broker Bob Roberts Robert Emmett.

Financial PR via [e-mail]

Violet Wilson	[phone]
Georgia Edmonds

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.

With the resource potential of the EP513 Hussar and the EPA155 Mt Winter projects in line with market demand trends, Georgina Energy is well-positioned to capitalize on the growing gap between supply and demand for hydrogen, helium and gaseous hydrocarbons in Australia and globally.

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

 

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