Broker Research Initiation

Georgina Energy Plc, GEX.L announces that Clear Capital Markets has published an initiation note, available on the Company's website: https://www.georginaenergy.com/investors/results-reports-presentations/

The note reviews in depth Georgina's Hussar and Mt Winter assets, as well as the opportunities presented by Mt Kitty, Dukas, Mahler/Magee, owned by Central Petroleum, which Georgina is currently in the process of acquiring. Overall, the key takeaway is that the portfolio has transitioned from frontier exploration toward re-entry and appraisal, marking a clear step-change in maturity and risk profile.

The initiation note also references the Company's structured offtake-led funding approach, including the recently announced $25 million Harlequin facility to fund the Hussar drilling programme, alongside wellhead sales/offtake pathways as part of the Company's commercialisation strategy.

Clear Capital also provides a positive review of the helium and hydrogen markets, highlighting that new sources of reliable helium supply are increasingly valued, particularly those that can be brought online without reliance on large-scale LNG infrastructure or multi-year development timelines.

In terms of catalysts investors should be aware of, the profile is now anchored by two parallel execution tracks: a lower-risk re-entry and appraisal programme at Mt Kitty and a funding supported, large-scale drilling campaign at Hussar. Together, these provide multiple opportunities for value inflection through 2026-27, with outcomes driven increasingly by execution and deliverability rather than binary frontier exploration risk.