Hussar EP513 Drill Contract Update
Georgina Energy PLC has provided an update on the Hussar EP513 drill contract, stating that Ensign Energy has until March 18th to respond to a standard contract for the Ensign 970 drilling rig, though Georgina is reviewing other rig options. The company is working with Harlequin Energy and its partners, who will fund the drilling and field development, and remains on track for civil engineering access and site works to commence in Q2 2026, with drill testing anticipated in Q3 2026. Technical consultants are issuing further requests for quotations for various drilling program services, and the company's CEO highlighted the Hussar prospect as one of the largest subsalt Helium, Hydrogen, and Hydrocarbons prospects in onshore Australia.
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Georgina Energy Plc, GEX.L provides the following update following meetings with Ensign Energy concerning the supply of its Ensign 970 drilling rig for the Hussar prospect re-entry well in EP513.
Highlights:
| • | Georgina is in discussions with Ensign Energy regarding its Ensign 970 rig ○ Ensign has until 18 th March to respond to the standard contract provided ○ Georgina continues to review other rig applications |
| • | Georgina continues to work closely with Harlequin Energy and its partners following signing of off-take agreement |
| • | Company remains on target for civil engineering access and site works anticipated to commence in Q2, 2026 |
| • | The civil engineering works required to enable the drill testing of this prospect remains on track for Q3, 2026 |
Ensign has until 18th March to respond to the standard contract provided by Aztech/Westmarket Oil & Gas Pty Ltd, while Georgina has other rigs to consider prior to the execution of the contract.
The Company continues its planning for the water well drilling rig access and a further reconnaissance trip with the proposed contractors for repairs to the access roads and airstrip, which is required to enable rapid mobilisation of the drilling rig and support service companies to site.
The Company's technical consultant, Aztech Well Construction, continues to issue additional RFQs in support of the planned drilling program including for the casing, wellhead, and service company support for electric logging, casing running and cementing, drilling fluid engineering, wellsite geology, mudlogging and gas sampling/laboratory analysis services.
Following the execution of an Off-take Framework Agreement with Harlequin Energy, the Company is working closely with Harlequin and its partners who will provide funding for the drilling of the Hussar well and field development. The Company remains on target for civil engineering access and site works anticipated to commence in Q2, 2026.
Rig Specifications:
The rig specification is an Automated Drilling Rig ("ADR")-1500 model with a hook load (capacity to lift drill string, tools etc.) of 750,000 lbs.
| • | Automatic pipe handling for both drilling and stacking, "auto roughneck" |
| • | Triple stand capacity-can stand and vertically rack three joint lengths of drill pipe i.e. 90 feet sections |
| • | A top drive, i.e. no rotating drill table; all powered at the top of the drill pipe |
| • | Diesel electric 4,400 hp generator |
| • | 2 x 1,600 hp mud pumps |
| • | Racking capacity 27,000 ft of 4" drill pipe |
| • | Self-walking capability - can move independently short distances on the drill pad |
| • | Capable of drilling to 5,000m depth with 5" drill pipe (note prognosed total depth ("TD") of the Hussar well is c.2,800m) |
Anthony Hamilton, Chief Executive Officer of Georgina Energy, commented:
"The Company continues to undertake the necessary preparatory planning and civil engineering works required to enable the drill testing of this exciting prospect in Q3, 2026, as guided. With 300 km2 of area closure, the Hussar prospect is one of the largest subsalt Helium, Hydrogen and Hydrocarbons prospects in onshore Australia."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.