Georgina Energy Plc, GEX.L is pleased to provide the following update on the recent site visit to the Hussar drilling site EP513.
The Company's representatives and technical consultancy team travelled to the Hussar prospect re-entry site on 12th February 2026 to undertake detailed inspections and evaluate the work required for drilling and camp pads, access routes, water well drilling, airstrip remediation and to investigate a back-up or secondary reserve airstrip at Carnegie Station.
The programme is intended to ensure that required work will be successfully completed to enable rapid mobilisation of the drilling rig to site to commence drilling on schedule.
At Hussar, the two main subsalt reservoir targets are the Townsend Formation and the fractured Neoproterozoic basement lithologies.
The final agreed site layout was fully inspected in compliance with the Well Management Programme ("WMP") submitted to Department of Mines, Petroleum and Exploration ("DMPE") for the site civil works plan (below), and subsequently confirmed to be fit for purpose. The Company is negotiating with another operator in the district to share the costs of part of the access road and drilling of the required on-site water well.
The Proposed Wellsite Plan
The Company's representatives and consultants undertook the following whilst on site:
锟� Drill pad site dimensions were confirmed in accordance with the Wellsite Plan.
锟� Water well location and access roads for clearing approved.
锟� Previous Seismic lines were inspected and Geobit Instruments SmartSolo microtremor HVSR readings taken to estimate depth to bedrock at the drilling site.
锟� The proposed camp location was inspected and found to be appropriate.
锟� The nearby Hussar Airstrip was inspected for the required work program (Minimal grading is anticipated).
锟� The Carnegie Station airstrip was inspected as a backup location with longer dimensions and well-maintained surface conditions.
锟� Access routes to allow mobilisation of the drilling rig to site were inspected and confirmed as appropriate.
锟� Refuelling areas for helicopter transport were inspected and agreed to be appropriate.
The Company's technical consultants, Aztech Well Construction, continue to issue RFQs (Requests for Quotation and Supply) in support of the planned drilling programme, including for casing, wellhead, drilling rigs and service company support for electric logging, casing running and cementing, drilling fluid engineering, wellsite geology, mudlogging and gas sampling/laboratory analysis services.
The team has taken various images during the inspection which have been posted on the Georgina Energy website for stakeholders to view.
The drilling programme, site infrastructure, airstrip and access route civil works including 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. Civil engineering for access and site works are anticipated to commence in Q2 2026.
Anthony Hamilton, Chief Executive Officer of Georgina Energy, commented:
"The Company anticipates drilling of the Hussar prospect re-entry well in Q3, 2026 and is moving ahead with the necessary preparatory planning and civil engineering works required to enable the testing of this exciting prospect. With 300 km2 of areal closure, it is one of the largest subsalt Helium, Hydrogen and Hydrocarbons prospects in onshore Australia."