Georgina Energy increases resource base at Mt Winter helium, hydrogen and natural gas project
Georgina Energy () has announced a significant resource upgrade at its Mt Winter prospect in Northern Territory, Australia.
The upgrade follows the successful completion of seismic data reprocessing and re-mapping by the company’s independent Competent Person, Maki Petkovski.
The revised estimates take into account Georgina's assumed 75% working interest, based on the company funding 100% of the planned Mt Winter-1 re-entry program.
The new resource adds 15% in net attributable 2U prospective recoverable resources of helium and hydrogen and a 3% in natural gas resources.
The new totals, calculated at the 75% net ownership level, are 127 billion cubic feet (bcf) of helium in recoverable resources, 117 bcf hydrogen, and 944 bcf natural gas.
A new 60km² structural closure, offering future drill target potential, has also been identified.
The company is now planning for the re-entry at the Mt Winter-1 well, with target depth extended to around 2,900 metres. The Mt Winter-1 well was originally drilled in 1982.
Exploration permit negotiations are progressing.
"We are very pleased with this outstanding 15% increase (helium & hydrogen) to the recoverable resources in our Mt Winter asset, as well as the identification of a second larger target structure within our existing permit area which could provide significant potential to increase the resource,” said Anthony Hamilton, chief executive of Georgina Energy.
“We anticipate receiving the grant of the exploration permit and are working well with the regulators of the NT DME. Georgina remains focused on re-entering both the Hussar and Mt Winter wells as part of our program to develop low-risk helium, hydrogen and natural gas projects in Australia."
View from Vox
This addition to resources is very welcome, and continues to highlight the prospectivity of Mt Winter. Drilling will be the big step, of course, but Georgina knows more about Mt Winter now – enough to extend the target depth - and success could be within its grasp.
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