RE: GEORGINA ENERGY PLC25 May 2021 23:03
It is nice to read about EP155 and the potential value it holds. I don’t recall Mosman’s writing up this level of information.
EP155 – Mt. Winter
In the Amadeus Basin in the Northern Territory, Westmarket Oil & Gas (100% owned subsidiary) holds a Farm-in with Mosman Oil & Gas to earn up to 90% interest, with management control, in the EP155 property at Mt. Winter, a project area covering c.230,000 acres. A pre-existing well has been drilled to a depth of 2,650m but has not yet been extended deep enough to penetrate the sub-salt helium horizon.
Key aspects of the property include:
• Independent consultants have identified the necessary elements for the formation of substantial helium, and potential charged structures to host 75 BCFG of helium at P50. This volume of helium has an in-situ value of US$21bn at a price of US$280 per MCF.
• Additionally, potentially around 1.5 TCFG of P50 recoverable hydrocarbons.
• Around 165 BCFG of hydrogen may also be present, which could offer an
additional revenue stream.
• Mapped seismically defined structural closure in the Mt Winter prospect
hosted by EP 155 has been evaluated totalling some 3,200 acres.
Georgina Energy has an initial programme to complete seismic studies and then re-enter and deepen the existing well to develop the subsalt helium (and potentially hydrogen) resources.