All coming together nicely ..30 Jun 2025 07:38
Outlook:
o Hussar:
§ Formal drilling approval for Hussar expected within weeks following successful submission of majority of required documentation to DEMIRS; Environmental Management Plan ("EMP") of expanded area due to be lodged imminently
§ Subject to formal approval, long lead items will be ordered for Hussar, along with contractors secured
§ Extension of resource area may provide additional future well target sites
o Mt Winter:
§ Aboriginal Land Rights Act Agreement from Central Land Council expected imminently, following which 100% acquisition will be approved
§ Well Management Plan, detailed HSE plan and comprehensive EMP will be submitted to the Northern Territory Department of Mining and Energy ("NTDME")
§ Identification of second larger target structure within licence area offers significant future potential to increase production
o The Company is progressing negotiations following the completion of a detailed review for potential advanced prospects with proven drilled occurrences of gas with high concentrations of helium, hydrogen and hydrocarbons under relevant Confidentiality Agreements. These potential targets are slated for re-entry and development following the completion of developments at Hussar and Mt Winter.