Georgina Energy has provided an update, having received formal proposals after the issuing of RFQs (Request for Quotation) for an appropriate drilling rig, water well drilling rig, access road and airstrip repairs for the planned Hussar prospect re-entry well in EP513.
Highlights:
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Formal quotations received for suitable drilling rig and camp facilities at Hussar EP513.
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Quotation received for water well drilling rig; reconnaissance visit planned for access road and airstrip works.
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Preparatory civil works and drilling and completion programme remain funded by Harlequin Energy under a structured offtake funding arrangement (non-dilutive to Georgina shareholders).
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Civic engineering for access and site works are anticipated to commence in late Q1 or Q2, 2026, with drill testing expected in Q3 2026.
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Supply and Off-Take Agreement Framework with Harlequin executed.
The Company has received formal quotation for the supply of a suitable drill rig, together with camp facilities at Hussar EP513. Representatives of the drilling company will meet with Georgina's technical team within the next 7 days to review the planned drilling programme and timeline.
In addition, a formal quotation has been received for a water well drilling rig. The water well drilling is a critical component of the Hussar drilling programme; a dependable water supply is essential for the make-up water for drilling fluids, ablutions, road watering and cleaning. The proposed contractors will carry out repairs to the access roads and airstrip imminently, following a reconnaissance visit. The formal quotation will enable the rapid mobilisation of the water well drilling rig and support service companies to site to for the efficient evaluation of the two main subsalt reservoir targets: the Townsend Formation and the fractured Neoproterozoic basement lithologies.
The Company is working with another mineral explorer in the district to share the costs of equipment, crew mobilisation and demobilisation for repair of the access roads and airstrip.
Further images will be provided and posted on the Georgina Website for shareholders to view.
The Company's technical consultants, Aztech Well Construction, have issued additional RFQs in support of the planned drilling programme including for casing, wellhead, and service company support for electric logging, casing running and cementing, drilling fluid engineering, wellsite geology, mudlogging and gas sampling/laboratory analysis services.
The drilling and completion programme, site infrastructure, airstrip and access route civil works, which includes the water well drilling required to develop Hussar into a producing asset, will be funded solely by Harlequin Energy and their partners in a structured Offtake funding arrangement that is non-dilutive for Georgina shareholders. Civic engineering for access and site works are anticipated to commence in late Q1 or Q2, 2026, with drill testing expected in Q3 2026.
Anthony Hamilton, Chief Executive Officer of Georgina Energy, commented:
'The Company is confident in undertaking the necessary preparatory planning and civil engineering works required to enable the drill testing of this exciting prospect in Q3, 2026. With 300 km2 of areal closure, the Hussar prospect is one of the largest subsalt Helium, Hydrogen and Hydrocarbons prospects in onshore Australia.'