RE: Re- Native meeting...10 Sep 2024 12:30
Well redeveloper
Georgina Energy PLC (LSE:GEX), led by chief executive Anthony Hamilton, is focused on well redevelopment. Its blueprint, conceived by technical director John Heugh, is to re-enter wells in Western and Central Australia abandoned in the 1980s, where the success rate was 100%. This approach is cost-effective for accessing geological formations rich in hydrogen and helium—both in high demand in the modern green economy—as well as traditional natural gas.
Work will commence at the Hussar project in preparation for drilling in December, expected to take around 50 days. The historic nature of Georgina’s EP513 target means there’s already a drill pad, access roads, and nearby oil and gas infrastructure. A rig can be mobilised and on-site in days. Hussar is one of two Georgina projects with a combined footprint of 3,951 km²—the second being Mt Winter, a farm-in that gives the company the right to earn up to 90% of the asset. To finance these development costs, Georgina raised around £5 million via a reverse takeover transaction, listing the company on the LSE’s standard list in July.