Georgina Energy resumes site activities at its wholly-owned EP513 Hussar site in the Officer Basin, Western Australia, to finalise environmental and heritage surveys for drill approval.
Access to this content is restricted to Professional users only.
If you are a Professional Investor Sign up for a free Vox Markets account
Already a member?
Georgina Energy resumes site activities at its wholly-owned EP513 Hussar site in the Officer Basin, Western Australia, to finalise environmental and heritage surveys for drill approval.
() , an Australia-focused natural resources explorer, issued an operational update on its Hussar well re-entry programme in the Officer Basin, Western Australia. 's 100%-owned Hussar EP513 hosts an unrisked 2U prospective resource of 196 bcfg helium, 218 bcfg hydrogen and 2.03 tcfg hydrocarbons.
Georgina confirmed that access to Hussar had successfully reopened following a weather-related pause. said its personnel had returned to EP513 to conduct new environmental impact (EIS) and heritage studies in support of Hussar's drill permit application. Once finished, a final packet will be sent to DEMIRS (Australian mining regulator) by May 2025.
needed to update its previously submitted EIS and heritage surveys to reflect the recent expansion of Hussar's structural closure by 50km2 to a total area of 350 km2. The revised surveys are crucial for obtaining drilling approval, and should enhance the scope of future field development at Hussar.
said its contractors were also inspecting the Hussar area following earlier assessments that the access roads and airstrip to EP513 would require work due to recent heavy rains and flooding.
View from Vox
Georgina's personnel and contractors have arrived on site at its 100%-owned Hussar EP513 prospect in the Officer Basin, WA, after delays caused by adverse weather. The group, comprising representatives from engineering consultancy Aztech Well Construction, cultural history specialists, Traditional Owners and environmental experts, and other contractors, is conducting updated environmental and heritage surveys to account for Hussar's recent expansion. The reports should be completed quickly and submitted to DEMIRS, with drilling approval expected soon after.
Despite the brief weather-related delay, Hussar is on track to unlock significant value, further boosted by the recent expansion of its structural closure by 50km2 within the existing permit area. recently announced a positive scoping study covering Hussar and its other core asset in Australia, the EPA155 Mt Winter prospect in the Amadeus Basin, Northern Territory. The study confirmed the projects' strong 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 development, with a 40 MMscfd raw gals flow scenario, generating a 27.3% IRR and US$1.64bn NPV. The economic assessment for the plant to process He, H, LNG, and Ar was based on a raw gas wellhead delivery price of US$2.0/Mcf and assumed a 20-year project life.
The range of estimated pre-tax profits was US$7.3m-$208m per year, based on total field flow rates of 10-60 MMcfgd and prices of raw wellhead gas of US$4-US$10/Mcf. The wide range reflected the early stage of development at Hussar and potential scalability of production. In any case, the well reentry development should be commercially viable. There is further significant upside should helium prices exceed US$700/Mcf, with an IRR over 35% at US$900/Mcf.
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.
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.
Follow News & Updates from Georgina Energy:
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.
