Georgina Energy advances Mt Winter project with key approval for EPA155
() , an Australia-focused natural resources producer, issued an update on its core EPA155 Mt Winter Prospect in the Amadeus Basin, Northern Territory.
Georgina confirmed that following a successful meeting on September 11, 2024 between the Central Land Council (CLC) and Traditional Owners, the latter has greenlit the granting of 's selected priority area within EPA155, including the proposed Mt Winter 1 well target.
The formal grant is subject to the formality of ratification by the Minister for the Department of Mining and Energy, which CLC has initiated.
The next steps include a submission of formal notice to the Northern Territory Department of Mining and Energy (DME) and the granting of the exploration permit where 's initial 75% interest will be registered. Georgina said the grant of EPA155 is expected to take approx. 2-3 months.
Anthony Hamilton, CEO of Georgina Energy, commenting: "The granting of the revised Mt Winter Exploration Permit with the prospect will be seen as a significant milestone and the result of hard work undertaken by the Georgina team, in particular, Mr Liddle OAM. We're very pleased to move forward with the development of Mt Winter, fulfil the outstanding requirements and pursue our low-risk, high-reward re-entry strategy."
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Georgina clears another regulatory hurdle as it advances its EPA155 Mt Winter Prospect in the Amadeus Basin toward development and production. Now that the Traditional Owners have cleared the grant of EPA155 to , final approval by the government should take no more than 3 months. Upon grant of the exploration permit, 's initial 75% interest will be formalised as well as its other farm-in obligations.
Meanwhile, continues to reprocess and remap 2D seismic data from EPA155. Upon completion of the data analysis, will negotiate the terms of joint operating agreement between the JV parties. Finally, after the permit is granted, will initiate a full programme to take Mt Winter to a pre-drill stage. This includes finalising well design, site preparation, and pre-drill regulatory and operational requirements.
Mt Winter hosts unrisked 2U prospective resources of c. 148 BCFG of helium, c. 135 BCFG of hydrogen, and c. 1.22 TCFGE of hydrocarbons. All of 's work programmes are fully funded from its recent listing. received approx. £4.2m in August following its July 31 2024 admission to trading on the LSE Main Market.
Looking ahead, investors should expect a scoping study for EPA155 and 's other core asset EP513, that will provide capital, operating cost, and revenue estimates. The first draft of the study is expected in January 2025.
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