Hussar EP513 Drill Operations Site Inspection
Georgina Energy PLC has provided an update on its Hussar EP513 drill operations, with technical consultants commencing RFQs for the planned drilling program and preliminary indications that the Explorer Rig is suitable and potentially available by February 25th. Company representatives will conduct site inspections on February 12th, 2026, to evaluate work programs including airstrip repairs, road access, and pad preparation, which are crucial for commencing drilling to test the Townsend Formation and fractured basement lithologies. The drilling program and necessary site infrastructure works will be funded non-dilutively by Harlequin and their partners through a structured Offtake funding arrangement, with drilling anticipated in Q3 2026.
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Georgina Energy Plc, GEX.L provides the following update on drilling at Hussar EP513.
The Company's technical consultant Aztech has commenced the program to issue RFQs (Requests for Quotation and Supply) in support of the planned drilling program. Preliminary indications are that the Explorer Rig is appropriate in specifications to complete the drilling program and is potentially available subject to final confirmation by 25th February.
The Company's representatives and technical consultancy team will be travelling to site on 12th February 2026 to undertake detailed inspections and evaluate planned work programs designed to ensure that the drilling of the Hussar well can commence promptly following the necessary site and access works inclusive of repairs to the airstrip, access roads and preparation of the drill pad and accommodation pad.
These works will facilitate the coordinated and successful completion of drilling to test the main targeted reservoirs, ie the subsalt Townsend Formation and fractured basement lithologies. The team will be inspecting and taking images of the various sites as indicated on the map below. Following completion of these site inspections, selected images will be posted on the Georgina website for shareholders to view.
The Operating Agreement governing the drilling program for Hussar will see Harlequin, Schlumberger and Aztech Well Construction plan all site activities in line with the Government (DMPE) approved Well Management Plan (WMP) lodged by Georgina in 2025.
The drilling program and site infrastructure works required to develop Hussar into a producing asset will be funded solely by Harlequin and their partners in a structured Offtake funding arrangement that is non-dilutive for Georgina shareholders.
Anthony Hamilton, Chief Executive Officer of Georgina Energy, commented:
"We're pleased to be progressing rig selection for drilling and will be conducting a site inspection from 12th February. The site and access works planned are designed to best prepare us for drilling in Q3, 2026. Georgina and Harlequin have worked hard to structure this agreement to minimise exposure to significant capital outlay and therefore reduce dilution risk for shareholders."
Drilling Program
The initial program is outlined below:
| Completion Date | Activity |
| Q 1 2026 | Order long lead items such as wellhead/casing Tender & contract drilling rig (currently 4 appropriate rigs available ) |
| Q2 2026 | Water bore(s) drilling and installation on site Surface conductor pipe installation comprising the first section of drill casing Service company tender & contract; includes cementing, mud logging, e-logging, WSG, testing contractors Expand site/access roads, airstrip, drilling pad works. Inspection, planning and costing already completed Finalise the engineering and well design in conjunction with the drill contractor Mobilise drilling rig to site and all relevant service companies |
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.