Georgina Energy PLC (LSE:GEX) has outlined plans to accelerate exploration and development activities at its Mt Winter subsalt prospect in Australia’s Northern Territory, with seismic acquisition scheduled for early 2027 and re-entry drilling targeted for mid-2027.
The company said the project contains independently assessed 2U prospective recoverable resources of 234 billion cubic feet (BCF) of helium, 214 BCF of hydrogen and 1.7 trillion cubic feet (TCF) of natural gas.
These figures represent prospective resources rather than confirmed recoverable reserves, with further exploration and drilling required to establish the presence and commercial recoverability of the estimated volumes.
Georgina intends to begin the next phase of work with an abbreviated seismic survey covering approximately 190 line kilometres.
The survey will use modern seismic acquisition techniques to improve the company’s understanding of subsurface stratigraphy, formation boundaries and potential drilling targets within the Mt Winter structure.
The resulting data is expected to support the selection and refinement of target zones ahead of the planned well re-entry programme.
Seismic acquisition is scheduled to commence in early 2027, with the company targeting re-entry drilling by the middle of the year, subject to the necessary operational arrangements.
Georgina said it is progressing tender processes and holding discussions with drilling contractors, including Ensign Energy, concerning the proposed programme.
The company is also in discussions with Harlequin Energy regarding potential funding for the seismic work required before drilling.
No completed funding agreement or final drilling contract was confirmed in the information provided.
Mt Winter is located in the Amadeus Basin, a geological region containing several established oil and gas discoveries.
These include the Palm Valley, Mereenie, Dingo and Surprise fields, alongside the Mt Kitty and Magee discoveries, which have demonstrated the presence of helium within the basin.
Georgina considers the geological characteristics of Mt Winter, including its interpreted reservoir thickness, relevant to the prospect’s estimated resource potential.
The company has identified Mt Winter as a significant exploration opportunity within its Australian portfolio, although the scale and commercial viability of any future development will depend on further technical assessment and drilling results.
The planned seismic programme is intended to reduce geological uncertainty before the company proceeds with its next drilling activities.
Georgina’s wider exploration portfolio also includes the Hussar prospect in Western Australia, where it is pursuing opportunities associated with helium, hydrogen and natural gas.
The company has not provided a revised capital expenditure estimate or confirmed production timetable for Mt Winter in the supplied update.
About Georgina Energy
Georgina Energy PLC (LSE:GEX) is an AIM-listed exploration and development company focused on helium, hydrogen and natural gas resources in Australia.
Through its subsidiary Westmarket O&G, the company holds interests in onshore exploration permits, including the Hussar prospect in Western Australia and the Mt Winter prospect in the Northern Territory.
Its activities include geological evaluation, seismic exploration and drilling programmes intended to assess the potential commercial development of gaseous resources.
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