Georgina Energy (LSE:GEX) confirmed on Monday that contractors have completed the water well at its Hussar EP513 site in Western Australia, clearing a key step toward mobilising the contracted Ensign 970 drill rig.
The London-listed company, which holds strategic helium, hydrogen and natural gas permits in Australia, said the well is producing a consistent flow rate of between 250,000 and 350,000 litres per day, enough to supply drilling fluid and, after reverse osmosis treatment, camp ablutions and cooking water.
The September spud date remains on target, with the water well rig now set to move to the centre of the drilling pad to drill and set the 20 inch conductor pipe before Ensign Rig 970 arrives.
Civil works have also advanced, including excavation and lining of a water storage pond and drill-cuttings sump, plus grading, compacting and gravelling of the drilling and camp pads.
Hussar, targeting subsalt reservoirs including the Townsend Formation, spans more than 300 square kilometres of areal closure and ranks among the largest untested subsalt helium and hydrogen prospects onshore Australia.
An Independent Geological Report dated 1 February certified unrisked prospective resources of 283 billion cubic feet of helium, 315 billion cubic feet of hydrogen and 2.93 trillion cubic feet of hydrocarbon gas net to the company.
"Completion of the water well on site is crucial to our planned drilling operation," said chief executive Anthony Hamilton, adding it helps "expedite mobilisation of the Ensign 970 drill rig" ahead of the September test.
News Intelligence what this means for the company
Georgina Energy has completed the water well at Hussar ahead of schedule, securing a consistent 250,000–350,000 litres per day—enough to support drilling operations—and cleared a critical pre-spud milestone. The September drilling date remains on track, with the rig now positioned to set the 20-inch conductor pipe before the contracted Ensign 970 arrives. This removes a key execution risk on the path to testing what the company describes as one of Australia's largest untested subsalt helium and hydrogen prospects, holding unrisked prospective resources of 283 BCF helium and 315 BCF hydrogen net to Georgina.
Completion of the water well validates Georgina's ability to execute pre-drill logistics on schedule and de-risks the September spud date, a material near-term catalyst for a micro-cap explorer. However, the company remains entirely dependent on Harlequin and its partners to fund the drilling programme and site infrastructure, meaning the well's completion does not reduce Georgina's reliance on third-party capital to reach the well itself.
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