Mt Winter EPA 155 ALRA RECEIVED
Georgina Energy PLC has received a draft Aboriginal Land Rights Agreement for EPA155 Mt Winter, which will lead to 100% ownership of Oilco Pty Ltd, the current tenement holders, and is anticipated to be executed subject to Traditional Landowner approval. This prospect is located 70 kms west of the Mereenie Oil & Gas field, which has produced over 16 million barrels of oil and 250 BCF of gas since 1984, with current annual production of 115,000 barrels of oil and 12 BCFG. Mt Winter has prospective recoverable resources of 283 BCF of 2U/P50 gas, 214 BCF of Helium, and 1,734 BCF of Hydrogen, with analogous wells in the Amadeus Basin showing significant Helium and Hydrogen flows.
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Georgina Energy Plc, GEX.L is pleased to advise it has received the draft Aboriginal Land Rights Agreement (ALRA) from the Central Land Council (CLC) to facilitate the granting of EPA155 Mt Winter which will lead to the 100% ownership of Oilco Pty Ltd, the current tenement holders. The Agreement is being reviewed by Georgina and execution is anticipated subject to Traditional Landowners approval.
Highlights
| • | Mt Winter is 70 kms west of the Mereenie Oil & Gas field which has been in production since 1984 and has produced over 16 million barrels of oil, and 250 BCF of gas to date |
| • | Current annual production at the Mereenie Oil & Gas field is 12 BCFG and 115,000 barrels of oil per annum |
| • | Prospective Recoverable Resources of 2U/P50 of 283 BCF, Helium 214 BCF Hydrogen and 1,734 BCF Hydrocarbon Gas |
| • | Mt Winter has an aerial closure exceeding 3,200 acres with exceptionally thick combined total targeted Heavitree and fractured basement reservoir sections |
| • | The Amadeus Basin has demonstrated significant Helium, Hydrogen and Hydrocarbon flows with up to 9% Helium, 11.5% Hydrogen and 40% hydrocarbon gas from analogous wells in the same reservoir section as targeted at Mt Winter |
| • | In addition, there are two additional wells within EPA155 which will be investigated for potential re-entry |
Once the Company, the CLC and Traditional Landowners execute the ALRA, it will be submitted to the Northern Territory Minister for the Department of Mining and Energy who will grant the Exploration Permit.
Anthony Hamilton, Chief Executive Officer of Georgina Energy, commented:
"The Company is very pleased with the outcome and wishes to thank Bob Liddle (OAM), our Indigenous Consultant and the Georgina team for their tireless work in consultation with the CLC and Traditional Owners in progressing the EPA155 ALRA Agreement. Georgina looks forward to accelerating the Mt Winter prospect re-entry."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.