UK-listed Georgina Energy is advancing plans to drill a re-entry well at its Hussar prospect within onshore exploration permit EP 513 in Western Australia, targeting a mixture of helium, hydrogen, and natural gas. The company has received formal quotations for a drilling rig and camp facilities, marking a significant step forward for the project.

Project Development and Timeline

Critical preparatory work includes securing a water well drilling rig, with contractor reconnaissance visits planned to assess site access roads and an airstrip. Water supply is essential for drilling fluids and site operations. Civic engineering for access and site works is anticipated to begin in late March or the second quarter of this year, with drill testing expected to commence in the third quarter of 2026.

Drilling and Funding

The current preferred rig for the re-entry job is the Explorer rig owned by Mineral Resources. The entire preparatory civil works, drilling, and completion programme is funded by Harlequin Energy under a memorandum. This agreement grants Harlequin an exclusive option for the off-take of all helium, hydrogen, and natural gas produced from Georgina's two Australian assets, EP 513 and EP 155.

Hussar Prospect (EP 513) Details

The plan at the Hussar prospect involves re-entering and deepening an existing legacy well to 3,200 metres to assess two formations. Georgina has described it as one of the largest subsalt helium, hydrogen, and hydrocarbons prospects in onshore Australia. The company has previously estimated the potential in-situ value of the prospect at US$55 billion for helium and hydrogen and US$5.24 billion for natural gas.

EP 155 Asset

The second asset, EP 155, is located within the prospective Horn Valley Siltstone fairway. Georgina notes this permit has proven hydrocarbon potential, as demonstrated by two historical wells.