Mt Winter EPA 155 ALRA

Georgina Energy Plc, GEX.L confirms it has agreed the terms of the Aboriginal Land Rights Agreement (ALRA) with the Central Land Council (CLC) to facilitate the granting of EP155, which hosts the Mt Winter prospect. The Agreement will now be submitted to the Traditional Owners prior to execution then submission to the Minister of the Northern Territory Department of Mines and Energy for formal granting.

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 is 12 BCFG and 115,000 barrels of oil.
• Mt Winter has Prospective Recoverable Resources at 2U/P50 of 283 BCF Helium, 214 BCF Hydrogen and 1,734 BCF Hydrocarbon Gas.
• The Mt Winter prospect 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 in the same subsalt reservoir section as targeted at Mt Winter.

The EP155 Mt Winter Permit location within significant oil and gas fields

Mt Winter EPA155

Under the terms of the ALRA the Company intends to expedite the prospect re-entry and development program for the highly prospective Mt Winter project along with its Hussar project in the Officer Basin which is currently being prepared for a drilling program. The Mt Winter permit EP155 has been under unsuccessful application for over 16 years when held by previous companies. Georgina will complete the settlement with Mosman Oil & Gas including the payment of A$300,000 (from current working capital) on granting by the Minister of the 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 the negotiation and finalisation of the EP155 ALRA Agreement.

This is an important step toward the granting of EP155 and our planned re-entry and development programme at Mt Winter. The Company now has two active development workstreams, with Mt Winter progressing toward formal grant and Hussar advancing through pre-drill civil engineering works ahead of the planned Q3 2026 drilling programme."