Georgina Energy (LSE:GEX), the helium, hydrogen and natural gas explorer, said pre-drill site works at its Hussar EP513 prospect in Western Australia's Officer Basin are proceeding as planned toward a third-quarter drilling campaign.
Access roads, the airstrip, water well, drill pad and accommodation pad are all being prepared ahead of rig mobilisation.
Ensign Rig 970, currently located in the North Perth Basin, remains contracted for the programme, with a spud date anticipated in September 2026.
The well will be drilled to 3,200 metres, targeting the Townsend Formation and fractured Neoproterozoic basement lithologies for helium, hydrogen and natural gas.
Independent consultants have attributed net 2U Prospective Resources of 155 billion cubic feet of gas equivalent (BCFG) of helium and 173 BCFG of hydrogen to the prospect, with a combined potential in-situ value of US$55 billion, alongside 1.73 trillion cubic feet of natural gas with a potential in-situ value of US$5.24 billion.
"With 300 km² of areal closure, the Hussar prospect is one of the largest subsalt helium, hydrogen and hydrocarbons prospects onshore in Australia," said Chief Executive Anthony Hamilton.
Georgina holds a 100% working interest in EP513 through its wholly owned subsidiary Westmarket Oil & Gas Pty Ltd.
