Gex7 Nov 2025 15:13
The MOU with GEX will provide Harlequin with the exclusive option to acquire the rights to
100% of the helium, hydrogen and natural gas produced by GEX from their two gas
redevelopments at Hussar and Mount Winter.
The required backing was provided by a Colorado based family office, with investments and
assets under management of over nine billion dollars and who have been a long-term
partner of Harlequin as a provider of long term committed capital. The backer is privately
held and invests across the full spectrum of oil and gas, real estate and banking. They have
executed numerous high value transactions with both public and private companies in the
US, Canada, Western Europe and the Middle East.
The family has been active in the oil and gas business for more than three generations
through their own independent oil company, which has been active as an operator both
onshore and offshore energy exploration and development in the U.S., Canada and the
Eastern Mediterranean. This includes deep-water drilling and development in the Gulf of
Mexico and the Eastern Mediterranean.
Alongside this relationship comes relationships with top tier banks who will also provide the
required project finance and long-term debt needed to deliver the required infrastructure
for the development of both Hussar and Mount Winter.
As per the required next steps, the management of Harlequin will be finalising the terms of
the MOU on an exclusive basis, as well as setting out the timeframes and milestones for the
development of the Hussar and Mount Winter assets, which are operated by GEX.
Hussar, located in Western Australia’s Officer Basin, and Mount Winter in the Amadeus
Basin, Northern Territory, are recognised as prospects of significant national importance.
With proven reserves and the required drilling applications underway, both sites have the
potential to deliver significant volumes of natural gas, helium and hydrogen.
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