Located in the Northern Amadeus Basin between the producing Surprise Oil Field and Mereenie Oil and Gas Field has significant prospectivity for helium, natural hydrogen and hydrocarbons.
Georgina Energy Plc contracted to acquire 100% of the EPA155 (Mt Winter) asset from Mosman Oil & Gas’s subsidiary, Oilco Pty, in February 2025. Upon the grant of EP155 by the DME, Westmarket Oil & Gas Pty Ltd, a subsidiary of the Company, will pay Mosman the balance of AU$300,000 from current cash reserves to complete the acquisition.
EPA155 lies within the highly prospective Horn Valley Siltstone fairway with proven hydrocarbon potential as demonstrated by historical wells, Mt Winter-1 & 1A. Exploration data comprises a 2D seismic grid and 2 wells. The CPR assessed P50/2U Prospective (recoverable) Resources of 148 BCF helium, 135 BCF hydrogen and 1.2 TCF of natural gas with a potential in-ground value of c. US$45bn in helium and hydrogen, and c. US$3bn of natural gas.
Mt Winter-1 was drilled to a depth of 2650m reaching TD in the Proterozoic Gillen Fm, above the helium and hydrogen prospective targets. Hydrocarbons were encountered in 2 intervals, the Ordovician Stairway Sandstone (reservoir at Surprise Field) and Proterozoic Jonny’s Creek Beds (reservoir at Ooaramina discovery, north-eastern Amadeus Basin). The well was drilled off structure due to the limited seismic data available, and re-interpretation of the available data suggests valid targets at multiple depths down to and including basement.
The Company has engaged consultants to reprocess the seismic dataset and interpret all relevant horizons and basement details, which includes updating volumetric details and remapping the area. The Company will then submit a drilling approval application for the Mt Winter 1 re-entry.
ALRA Agreement
Georgina is currently negotiating the execution of the pre-grant Aboriginal Land Rights Act Agreement (“ALRA Agreement”).
The Company’s lawyers will file a formal notice with the Northern Territory Department of Mining and Energy (DME) under the Petroleum Act 1984 (NT) to secure the granting of the exploration permit. Upon the granting of the exploration permit, and in accordance with the Sale and Purchase Agreement between Oilco and Westmarket Oil and Gas, the Company’s 100% interest will be registered.
The Company will then proceed with the planned seismic reprocessing and remapping prior to submission of an application for drilling approval for the Mt Winter 1 re-entry.
The agreement to acquire 100% of the revised Mt Winter exploration permit has significant potential benefits to the Company for a very reasonable price. I’d like to thank the Mosman team for their co-operation to this point, working together to accomplish our respective objectives. This deal further strengthens Georgina’s portfolio and increases the potential shareholder value from this asset. This slight change in the ownership structure will not affect our expected timeline to develop Mt Winter and we are progressing well with the outstanding requirements.
Anthony Hamilton, Chief Executive Officer of Georgina Energy
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