Georgina Energy signs confidentiality agreement with Australian oil and gas company
Georgina Energy PLC () has executed a confidentiality agreement with a well-established Australian-listed oil and gas company with Australian onshore gas production assets.
The agreement covers Georgina’s well re-entry programme at the Hussar and Mt Winter helium and natural gas projects, both in Australia, on which several targets have already been identified.
Georgina has reached out to various parties to determine interest in either a farmout or direct interest.
The purpose of the agreement is to evaluate the potential acquisition or farm-out of certain permits between the parties, subject to formal agreements. The agreement is for a 24 month period from the date of execution.
"The execution of this agreement with a well-established, production company with Australian onshore gas assets and significant acreage, provides Georgina with exciting potential opportunities for growth following the development of Hussar and Mt Winter,” said Anthony Hamilton, chief executive of Georgina Energy.
View from Vox
Georgina stated its intention to reach out to potential farm-in partners earlier this month, and it has wasted no time in following up. There was clearly a significant level of interest and, although a confidentiality agreement is only a preliminary step, there is now a clear path opening up towards the next stages of work at Hussar and Mt Winter. The shares rose 2.5% in early trading, following the news.
.
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.