Hussar
EP513 Hussar: Officer Basin
- The HUSSAR Project, in the Officer Basin of Western Australia, is considered by independent consultants to be one of the most potentially lucrative resource basins in the Asia Pacific region due to its significant Helium Hydrogen, oil natural gas potential It was granted in September 2021 and will be converted into an EP prior to September 2022.
- Georgina Energy Plc holds a 100 working interest in EP513 via its wholly-owned subsidiary, Westmarket Oil Gas Pty Ltd which is the operating company in Australia The area consists of 47 graticular blocks, 3 574 km 2 It hosts the Hussar 1 well drilled in 1982 The well was drilled to a depth of 2 040 m with significant gas flow s oil shows above the Townsend subsalt horizon, representing the potential Helium reservoirs.
- Independent consultants have confirmed that the Officer Basin has, within a seismically defined closure of c 200 km 2 EP513 the required elements to yield significant Helium Hydrogen accumulations with nett attributable 2 U Prospective Resources of 155 BCFG of Helium & 173 BCFG of Hydrogen with a potential combined in situ value of US $55 billion. (He US $350/MCFG, H US $2.65/kg).
- The Hussar Prospect with net attributable 2U Prospective (recoverable) Resources of 0.91 TCFG of gaseous hydrocarbons, may host some US $5.24 billion in-situ natural gas value.
- Georgina Energy will, upon completion of its work program, convert EP513 into an Exploration Permit (EP) to develop the license and focus on the Hydrogen, Helium natural gas potential.