Additional Well Re-entry Opportunities

Georgina Energy Plc, GEX.L is pleased to announce progress on the evaluation of additional high potential targets for its well re-entry and development program, and an update on its core Hussar and Mt Winter prospects.

Additional Well Re-Entry Opportunities

Georgina's technical team is evaluating potential additional well re-entry targets within the Centralian Superbasin, including the Amadeus and Officer Basins, covering 2 million km² of Neoproterozoic to Cambrian sediments, with potential to recover material volumes of helium, hydrogen and natural gas.

• 10 priority targets have been identified, of a possible 168 currently plugged and abandoned wells, complementing the Hussar and Mt Winter prospects, all meeting Georgina's cost and risk criteria for re-entry and flow testing.
• The top two candidates for re-entry will be determined, subject to ownership and rights to the wells.
• As part of this evaluation process and re-entry strategy, the Company has executed a Confidentiality Agreement with a well-established producing Australian Oil & Gas exploration & production company.
• We look forward to updating shareholders on the potential broadening of our portfolio of assets.

Core Activity

Georgina continues to advance its Hussar and Mt Winter prospects:

• Approval has been sought to re-enter the Hussar 1 well extending its original depth of 2040 metres to c.3400 metres to penetrate the subsalt Townsend Formation, analogous to the helium, hydrogen and gaseous hydrocarbon bearing Heavitree formation in the Amadeus Basin. In line with previous guidance, Georgina expects drilling operations to commence in December.
• Pending approval following the 11 September 2024 on-ground meeting with the Traditional Aboriginal Landowners for EPA155 Mt Winter, Georgina remains on target to re-enter and deepen the well to penetrate the subsalt Heavitree formation and test for helium, hydrogen and natural gas.
• The off-take MOU with Harlequin Energy Limited has been extended for an additional 12 months; this is a non-exclusive agreement with the Company remaining in potential discussions with other parties.

Anthony Hamilton, Chief Executive Officer of Georgina Energy, commented:

"While our main focus is the commencement of drilling at Hussar before year end, for which we are fully financed, and the award of the Mt Winter Exploration Permit, we are excited about the possible additions of complementary well re-entry projects.

We look forward to keeping our shareholders informed, with several updates expected in the coming weeks and through to the commencement of drilling of Hussar."