RE: RNA Message update out on rns22 Jan 2025 11:46
22 January 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")
Acquisition of EPA155 Mt Winter Interest
Georgina Energy Plc, GEX.L, a helium, hydrogen and natural resources development company in Australia, is pleased to announce that it has reached an agreement to acquire 100% of EPA155 (Mt Winter) held by Mosman Oil & Gas' subsidiary Oilco Pty Ltd, subject to the execution of formal Contracts of Sale.
The purchase consideration for the deal is AU$350,000, which will be funded from Georgina's current cash reserves. This exit from the Amadeus Basin is in line with Mosman's strategy, having announced similar disposals earlier in the month. The deal allows Georgina to continue as planned with preparations ahead of being granted the exploration permit for Mt Winter. Under this agreement, Georgina is entitled to 100% of the returns from any future production, less a modest 2.5% royalty to Mosman. Additional production royalties will include 10% of sales receipts, less certain deductions, to the Northern Territory Government under the Petroleum Royalty Act 2023 NT, and c.3-4% (negotiable) on the same basis to the Central Land Council, benefiting the relevant Traditional Owners.
Georgina remains fully funded and is working towards drilling approval from DEMIRS and drilling the Hussar prospect in the Western Australian Officer Basin where it is targeting a massive prospect of c.350 km2 for helium, hydrogen and natural gas.
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