The Hussar prospect lies in the Officer Basin, Western Australia in exploration permit EP513 (SPA 0036).
It lies near to the Gunbarrel Highway some 1600km from Port Hedland in WA and a similar distance from Darwin. Georgina Energy intends to re-enter and deepen the EP513 Hussar well to a depth of 3,200m for helium, hydrogen and natural gas. Hussar as a potential in-situ value of US$55bn of helium and hydrogen, and US$5.24bn of natural gas.
As of March 2025, our team arrived on site to complete the updated Environmental Impact Survey “EIS2” and Heritage Reports to secure drilling approval.
In February 2025, we published a scoping study of Hassar, completed by Duncan Seddon & Associates Pty Ltd, Australia, an Independent Consultant to the company, to evaluate the potential commercial development of the Hussar and Mt Winter projects, outlining key economic parameters, sensitivities and strategic implications.
Highlights
01Confirmed viability
The study confirms
the potential for a commercial gas field development at Hussar, capable of producing helium, hydrogen, LNG, and argon.
02Strong financials
A 40MMscfd raw gas flow scenario
generates an IRR of 27.3% and an NPV of US$1.64 billion (10% discount rate).
03Revenue potential
Pre-tax profits for GEX/WMOG
estimated between US$7.3 million to US$208 million per annum, depending on production rates and gas prices.
04Ongoing discussions
Georgina Energy’s executives
are currently engaging with potential offtake partners.
Scoping Study Summary
The base case provides a conceptual framework for the commercial development of the Hussar project.
The economic assessment for the Offtake Separation Plant to process helium, hydrogen, LNG, and argon is based on a raw gas wellhead delivery price of US$2.0/Mcf and assumes a 20-year project life.
Key financial estimates include
- Capital Expenditure (Capex): US$1.13 billion (for a 40MMscf/day separation plant), includes 10% discount rate
- Gross Annual Revenue: US$470.8 million
- Net Present Value (NPV): US$1.64 billion
- Internal Rate of Return (IRR): 27.3%
- Key Sensitivities:
- Significant upside if helium prices exceed US$700/Mcf, with an IRR over 35% at US$900/Mcf
- Negative impact if gas feed rates drop below 30MMscf/day or helium prices fall below US$550/Mcf
Based on potential total field flow rates of between 10-60 MMCFGD, and sale prices for raw wellhead gas ranging from US$4-US$10/Mcf, the study estimates potential net pre-tax profits between:
- $20,000 to $570,000/day
- $7.3 million pa to $208 million per annum
The wide range of outcomes reflect the early stage of development of the Hussar project and the potential scalability of production. Read more within the full scoping study.
Operational updates
Explore the journey behind our pioneering work in helium and hydrogen.