Member Info for Reserved

Each investor needs to balance the potential benefit relative to the level of risk. In the case of GEX, there is a significant potential benefit and, as with all projects, there are uncertainties and risks. Anyone who has been involved in risk management should be aware that the first step is to identify the objectives that need to be achieved to deliver a successful outcome. Having read the prospectus, undertaken background reading and listened to various presentations and interviews, I believe the Board understand what they need to achieve, how to achieve it and have set out the relevant activities together with approximate timescales.

It is now up to each investor to decide if a reasonable strategy has been established, and whether it is achievable. Regular communication regarding progress and outcomes is required and I believe the Board will deliver in this regard. Making judgements on the potential success of this project is premature at this stage, so I have no plans to reduce my holding.

For anyone not up to date with the forthcoming activities / events:

Stanley oil asset sale – Completion due 03/09/24 – Agreed Price $1m + 3 potential production bonuses of $250k payable in July 2025, 2026 and 2027.

EP155 – GEX representatives meeting the Central Land Council on 11/09/24 for the purposes of approving negotiations leading to the granting of the EPA 155 exploration permit.

EP145 - Greenvale have until 21 February 2025 to complete the Year 3 Work Programme, which includes:

• Acquisition of 100km 2D seismic survey

• Seismic data processing and interpretation

• Identification of well locations

• Detailed well planning and preparation for drilling in 2025

Vecta Helium Project in Las Animas County

“The exploration strategy is to drill an exploration well on each of the five prospects in 2024. Four of these wells already have approvals in place. Following a successful exploration programme, the next step would be to acquire seismic and drill helium production wells.”

(“Helium production in Las Animas County includes the historic Model Dome field which recorded 7-11% helium content. Other companies active in the area include Desert Eagle Operating producing helium at Red Rocks, and Blue Star Helium (ASX:BNL|OTCQB: BSNLF) developing helium discoveries at Galactica/Pegasus.”

“Vecta drilled the Sammons exploration well last year in an Area of Mutual Interest ("AMI") arrangement with Blue Star Helium and discovered helium and carbon dioxide.”)

In 2023, the IMF approved a 48-month extended arrangement under the Extended Fund Facility (EFF) of approximately US$3 billion to support Sri Lanka’s economic policies and reforms.

The press release included the following statement: “The ongoing efforts to tackle corruption should continue, including revamping anti-corruption legislation. A more comprehensive anti-corruption reform agenda should be guided by the ongoing IMF governance diagnostic mission that conducts an assessment of Sri Lanka’s anti-corruption and governance framework. The authorities should step up growth-enhancing structural reforms with technical assistance support from development partners.”

I am hopeful that the support of the IMF for Sri Lanka means that there will be no material adverse impact on the project.

It appears to me that some people may not have read the IPO. If not, I suggest that you at least read the Competent Persons Report; I note below an extract from the covering letter dated 23/05/24 which sets out the compliance requirements for the report:

"The results of this work have been presented in accordance with the requirements of the Main Market of the

London Stock Exchange, and of the Prospectus Rules published by the UK Financial Conduct Authority from

time to time, and “CESR’s recommendations for the consistent implementation of the European Commission’s

Regulation on Prospectuses No. 809/2004” (January 2005), including the European Securities and Markets

Authority’s (ESMA) amendments to such recommendations in ESMA document ESMA/2011/81. Al Maynard’s

independent evaluation was prepared in accordance with the Society of Petroleum Engineers (the “SPE”)

Petroleum Resource Management System (“PRMS”) 2018 and 2011 (Guideline) principals.

The evaluation, analysis, interpretation and assessments in this CPR have been performed based on technical

data on the Mount Winter Prospect and the Hussar Prospect supplied by Georgina Energy and other relevant

material available through the Northern Territory Geological Survey (https://nt.gov.au/industry/mining-andpetroleum/geoscience-data-maps) and the Geological Survey of Western Australia (GSWA)

(https://www.dmp.wa.gov.au/Geological-Survey/Geological-Survey-262.aspx). Publicly available data from

historical operators and adjacent operators in the region have been reviewed and where appropriate have been referenced in this document. A full list of the material reviewed is provided at the end of the CPR.”

Rnorth

Referring to your 'fact'; I think it would be helpful to include some more of your quote from the RNS:

"...positioning us to potentially unlock substantial value for our shareholders for minimal cost and no dilution."

I suggest the word potentially precludes your statement being a fact.

Following on from the recent RNS, an article has been published on Digital Health.

https://www.digitalhealth.net/2024/08/leeds-teaching-hospitals-to-trial-laser-activated-antimicrobial/

Paul Nix, phinology and anterior skull base surgeon at Leeds Teaching Hospitals NHS Trust, said: “Antibiotics can be used to decolonize the nose but need to be applied by patients at home for five days before surgery, and patients may not be able to do this, not to mention the concerns around rising levels of antimicrobial resistance.

The great advantage of Steriwave is that it can be administered once a patient has been admitted or at short notice for an emergency surgery and works instantly.”

I am looking forward to more significant news in the near future, with particular reference to the Phase 3 trial which I understood was to commence in Q3.

Any thoughts on the funding options for Phase 3?

You seem to be ignoring the similarity in the geology of the the Amadeus Basin and the Officer Basin.

The products including cryogenically stored Helium, LPG and cryogenically cooled LNG produced by modular plants could all be trucked out to various markets.

In your latest posting you appear to have discounted the prospect of approving negotiations leading to the granting of the EPA 155 application following the meeting on 11/09/24

Zak Mir interview with Zac Phillips at Oak Security

https://www.share-talk.com/traders-cafe-with-zak-mir-the-week-in-small-caps-sunday-11th-august-2024/

All exploration companies carry risk and for me GEX provides an acceptable balance of risk / reward. GEX’s ‘recent activities’ at Hussar (P35-36 of the prospectus) indicate to me that they have a plan. Importantly, they have a Native Title access agreement to allow project development and site access.

Successful projects need clearly defined actions, which GEX has set out.

Let’s judge them on good communication and progress. The following is an illustration of their approach to communication of material facts:

“.. the Company has received a formal invitation from the Central Land Council to attend an on-ground meeting on the 11th September 2024 in Alice Springs for the purposes of approving negotiations leading to the granting of the EPA 155 application.”

There are many good references to documents and interviews provided by knowledgeable posters; don’t be swayed by people that clearly have an agenda, but claim to be providing a balanced view.

There could also be the option of selling it at the wellhead. Apologies if anyone has already floated that idea.

The price per mcf would clearly reflect that option, but with the potential size of the resource, it would overcome capex and transportation issues.

The interview has provided an answer to the question raised by miker444 re the price of the gas at wellhead: USD $270 mcf. JK advised that this is a conservative figure. Bearing in mind the potential size of the resource (Hussar and Mt Winter), the resource value could be exceptional.

Hardolestation

Are you referring to the 8% concentration?

Miker444

Like you, I am interested in the answer to that question, but it is not something that will influence my investment decisions given the potential scale of the asset.

The following statement from the Prospectus implies strong interest in the wellhead products.

“Preliminary enquiries by Georgina Energy indicate that there is strong interest from various international and domestic suppliers of these gases in the purchase of all product at wellhead with such suppliers taking on the task of separation, extraction, liquefaction and containerisation of the various product lines potentially available.”

For anyone who has not seen the Oak Securities analysts note dated 30/07/24, I attach a link (previously provided by Seav)

https://wp-georgina-energy-2023.s3.eu-west-2.amazonaws.com/media/2024/08/Georgina-Energy-IPO-OAK-initiation-note31.pdf

The RNS provides a clear set of activities that need to be achieved if the Hussar target drill date of December 2024 is to be achieved. Undertaking the activities in parallel will provide the opportunity for a steady flow of information over the next few months

With reference to the Scoping Study, HEX issued an RNS advising the results of their Scoping Study 2 months after the admission to trading date. Hopefully, GEX will be able to announce the results of their Scoping Study by mid-October 2024.

GEX RNS today: included the following statement:

"EPA155 Mt Winter Update: The Company also advises it anticipates receiving a formal request to attend an on-ground meeting for EPA155 Mt Winter which will be attended by the Company's Indigenous Consultant along with Company representatives. The Company will make a formal announcement when written confirmation has been received."

With reference to the DFS and funding, MR said that they have 2 options; the first is a base case which would be prepared without additional drilling and there is funding for this option; the second option (expanded) includes additional drilling if the SI provides the agreed finance.

The next news is likely to be the result of the concentrate qualification. MR said in his interview on 25/07/24 that the expected target date is mid August. I am expecting a recovery in the SP on the successful completion of the qualification process.

Tom

Re your question about the timing for the resolution of Land Rights for EP155, I had a look at the GEX prospectus and it states the Native Title Agreement has to be completed by 31 October 2024 otherwise an extension will be required. However, there is an expectation that the Agreement will be achieved before 31 October 2024.

Once the Agreement is in place an Application to Transfer the licence can be be submitted to the relevant Minister and an appropriate person test is carried out by the Minister in relation to Westmarket O&G.

However, before making the Application to Transfer the licence, the following work commitments, outlined in the Farmin Agreement RNS, need to be completed:

· Seismic Reprocessing,

· A Gravity Survey and

· A Seismic Survey in accordance with the permit work programme.

After submitting the Application to Transfer with the required information, there is an expectation that the Minister’s approval will be granted in the order of one to two months (hopefully it will be quicker than the EP145 approval)

Given MSMN’s portfolio, and the number of milestones there will hopefully be a steady flow of good news over the next 12 months.

Tom

EP155 It has been under application for many years; GEX are now in the process of securing a conversion of the application to an exploration permit. They are also negotiating the native title land access agreement.

A timescale was not provided re completion of the outstanding tasks for EP155, but I hope that they are being run in parallel with the Hussar project. They referred to the additional depth to be drilled at both locations; in the case of EP155, it will be an additional 750m.

They also said there is potential for the wells to be over pressurised so the drilling contractor will be required to provide a blowout preventor rated to at least 6,000psi; potentially lots of gas!

I suspect Hussar has been picked as the first project because it is at a more advanced stage; it has a land access agreement, a completed budget has been submitted and they have a work programme. They do however need to complete their EIS and complete a full application for drilling.

I hope that helps.

I would have preferred GEX to start with EP155, but Andy Hamilton said during the recent Crux interview that they have undertaken an AEM survey at Hussar and identified a significant gas anomaly next to the reservoir that is already there.

During the interview Andy Hamilton did confirm that they will be proceeding with their obligations re EP155. He also stated that learning acquired at Hussar could be applied to EP155.