Georgina Energy highlights Hussar expansion and Mt Winter acquisition in March update
() , an Australia-focused natural resources explorer, issued an operational update on its flagship projects - the EP513 Hussar prospect in the Officer Basin, Western Australia, and the EPA155 Mt Winter Prospect in the Amadeus Basin, Northern Territory.
Georgina continued to advance its wholly-owned Hussar project toward well reentry and production. has now completed an environmental impact report (EIS) and heritage report, required for final drilling approval. The company clarified that the EIS needed to be updated to reflect the recent expansion of Hussar's structural closure by 50km2 to a total area of 350 km2.
Georgina further confirmed that access to the Hussar site would reopen on March 11, 2025 following a weather-related pause, to complete the EIS study and cultural heritage survey. Once finished, a final report will be sent to DEMIRS (Australian mining regulator) by May 2025 to support the drill permit application.
also reported good progress at its other core project, the EPA155 Mt Winter prospect in the Amadeus Basin, Northern Territory. recently acquired the remaining 25% interest in the prospect from Mosman Oil & Gas, increasing 's ownership to 100%. advised that approval of the acquisition from the Northern Territory government would arrive shortly.
In the meantime, has engaged 3rd party consultants to do a comprehensive review of Mt Winter's resource potential, incorporating the most recent data, with a final report expected in April 2025.
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Georgina continues to advance permitting and preparations for its two core assets in Australia, the EP513 Hussar and EPA155 Mt Winter. Despite a short weather-related delay, Hussar is on track to unlock significant value, further boosted by a recent expansion of its structural closure by 50km2 within the existing permit area.
Additionally, 's full acquisition of the EPA155 Mt Winter prospect in the Amadeus Basin, Northern Territory, brought the group's entire Australian portfolio under 100% ownership. Georgina is buying the remainder of EPA155 from Mosman for a relatively low price of AU$350k, which is in line with Mosman's disposal strategy, having announced similar sales in January 2025. The deal will not affect 's permitting and development timeline for Mt Winter, while enabling 100% returns from any future production minus a modest 2.5% royalty.
Furthermore, recently announced a positive scoping study covering the two assets, confirming their excellent economics and potential to produce commercial quantities of helium, hydrogen, and natural gas. The study's base case established a robust framework for Hussar's commercial development, with a 40 MMscfd raw gals flow scenario, generating a 27.3% IRR and US$1.64bn NPV.
Hussar is considered one of the most lucrative resource basins in the Asia-Pacific region. Following a recent 20% resource upgrade, the asset is estimated to host unrisked 2U prospective resources of 196 bcfg of helium, 218 bcfg of hydrogen and 2.03 tcfg of hydrocarbons. Once commenced, Hussar's well re-entry process is expected to take approximately 50 days.
By latest estimation, Mt Winter hosts unrisked 2U prospective resources of 148 bcfg of helium, 135 bcfg of hydrogen, and 1.22 tcgfe of hydrocarbons. As mentioned, has engaged independent consultants to do a comprehensive review of Mt Winter's resource potential, incorporating the latest data, with a final report targeted for April 2025.
Additionally, is actively negotiating farm-in agreements with two major oil and gas companies, targeting other areas with proven high concentrations of helium, hydrogen and hydrocarbons. Subject to successful binding farm-ins, these additional targets will become priority areas following completion of work at Hussar and Mt Winter.
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