Georgina Energy plc ("Georgina" or the "Company") is pleased to present its unaudited financial statements for the 6 months ended 31 July 2024 ("2024 Interim Financial Statements").
Chairman's Statement
I have pleasure in presenting the 2024 Interim Financial Statements of Georgina Energy Plc.
The Company successfully completed the reverse takeover and it's admission on the Equity Shares (Transition) category of the official list and main market of the London Stock Exchange on 30 July 2024 having successfully raised a total of £5,000,000.
In the 3 months since relisting, the Company has been actively pursuing its agenda set out in the Prospectus dated 11 July 2024.
EP513 Hussar
1. The Company has commenced applications for the approval of a drilling permit at EP513 Hussar and engaged contractors (Aztech Well Construction) to undertake the re-entry of the Hussar 1 Well.
2. Seismic data made available to the Company by DEMIRS has provided a basis for more detailed seismic mapping results and better seismic sections through the well resulting in an overall increase of approximately 20% unrisked 2U Prospective (Recoverable) Resource estimate at Hussar.
3. The Executive Directors and Management will be on site together with the Company's contractors in November 2024 to undertake a site inspection ahead of the site preparation works and drilling program to commence in December 2024.
EPA155 Mt Winter
1. Westmarket Oil & Gas Pty Ltd, has received a formal request as the operator of the Westmarket /Oilco Farmin partnership to meet the Traditional Aboriginal Landowners to present the company's plans for the exploration, development and re-entry at EPA155 Mt Winter.
The Company will seek the consideration of the traditional aboriginal landowners to the granting of the exploration permit EPA155. Should the traditional landowners consent, the Company will expedite its commitments under the farm-in agreement to earn its initial 75% interest.
Georgina Energy aims to become a leading player in the global energy market and is focused on establishing itself among the top producers of helium and hydrogen worldwide. With a strategic approach and leveraging the experienced management team's expertise, Georgina Energy aims to capitalize on opportunities in these critical energy sectors.