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Georgina Energy CEO Anthony Hamilton on upcoming Hussar drilling

Georgina Energy PLC (LSE:GEX) CEO Anthony Hamilton talked with Proactive about the company’s latest operational update, focusing on the upcoming drilling at the Hussar helium project, set to begin in December.

Hamilton shared that multiple workstreams are currently underway, including the reprocessing of seismic data for EPA 155 and meetings with traditional landowners to secure necessary approvals. Hamilton confirmed the company’s confidence in moving forward, particularly after re-evaluating reentry targets for future exploration. “We’ve narrowed down the list from 200 targets to just a few, and we’ve engaged with prospective partners,” Hamilton explained. Additionally, Georgina Energy has appointed an independent consultant to carry out a scoping study for the gas separation plant, aiming to ensure a clear financial model for the project's offtake agreement.

Looking ahead, a site inspection is planned for November, where environmental surveys and preparations for drilling will take place, alongside involvement from traditional landowners.

Stay tuned to Proactive's YouTube channel for more updates on Georgina Energy’s progress, and don't forget to give this video a like, subscribe to the channel, and enable notifications for future content.

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Broadcast on:
03 Oct 2024
Audio Format:
other

I'll let you're watching proactive. I'm joined by Georgina Energy CEO Anthony Hamilton. Tony, very good to speak with you again. You have an operational update and you say it's a busy period for Georgina as you prepare for drilling as your Hissar Helian project in December. Tell us what's going on. Hi, soon. Yes, thanks. Well, since our last announcement, which I think was at the end of August, we have been extremely busy. In fact, we've had multiple work streams under operation. We had the meeting in Alice Springs for EPA 155. And obviously, the focus for us is the drilling permit for Hissar, which remains on target for commencement in December. So, the old saying is of course, there's not much point saying something if there's nothing to say. So, materially, we've got a lot going on which we've focused on. Hence, today's RNS. Tony, you had what looks like a successful meeting with the CLC and traditional land owners last month. Given the investment you're committing to, you must be reasonably confident you'll get their approval to proceed. The fact that we have commenced reprocessing the seismic for EPA 155 would indicate a high degree of confidence on our part. We are required to receive a formal written notice from the CLC. And obviously, we are waiting for that. But the fact that we are proceeding in the manner that we are would indicate that we have a very strong positive aspect towards that outcome. Tony, you also say in the announcement that you completed evaluation of additional reentry targets. And that will shape the Hissar and Mount Winter Work programs. Can you take us through that? So, at some time ago, post Hissar and Mount Winter, we decided that we needed to look at other targets. And as I originally said, we whittled it down from close to 200 to 126 down to 10. Those 10 are now down to a number, a fairly small number. And we have reached out to various prospective partners to determine whether there's an interest. And obviously, from our perspective, this is forward looking in terms of on the completion of Hissar and Mount Winter, then we have other targets which fit the criteria for reentry, which is our model. In the meantime, you've also pointed an independent consultant to conduct a scoping study. So, take us through what's planned there. Yeah, one of the key elements to this is, as you know, we have an executed MOU with Harlequin Energy for the offtake because we want to sell the gas at the wellhead. But as part of that process, we decided to undertake a scoping study. So, we've appointed an independent consultant, a specialist in this. And essentially, what the scoping study will do is it will provide a capital and operating cost estimate. It'll also do a sensitivity analysis based on the different price levels for the proposed gas separation purification plant, which will be owned and operated by the offtaker. And so, we're doing that so that we have an absolute understanding of the financial model that we'll be dealing with when it comes to the offtake price and how we set everything. As you said, it's been a busy period for the company and a busy couple of months lying ahead, including a site inspection, which is planned for November. Take us through the next steps as you progress towards December drilling. Okay. So, one of the key elements that everybody needs to remember is we have a land access agreement in place with the traditional land owners. It's set in stone. One of the key elements of that is you have a certain amount of criteria which are required to undertake. And one of them is that we seek land council clearance from the traditional owners under the land access agreement. And the reason we do that is simply it's good manners. We need to advise them what we're doing, and they can't unreasonably withhold approval for what we're doing under the land access agreement. So, it's not an impediment. It's basically a good arrangement whereby we have a great relationship with the traditional owners. And so, all the way through the process, we involve them in what we're doing. And so, we've sought land council clearance approval. At the same time, we are completing a site inspection in November. And myself and the technical director will be on site. And again, the traditional owners will be involved, will be addressing heritage issues. And more importantly, it'll be part of the process that includes an environmental survey. And that is a prerequisite to the granting of our drilling permit from demons. So, yeah, we're looking, I think, about mid-November to be on site at Hussar. And at the same time, obviously, we will be doing some preparatory work on the wellhead at the same time in preparation for our December commencement of operations. Well, Tony, I hope you'll keep us posted on any progress as you make it. Thank you very much for the update today. Thank you, Stephen. That's Georgina, energy CEO, Anthony Hamilton.