Georgina Energy plc (GEX): Hussar well drilling approvals

This situation live

GEX Georgina Energy plc

£32m · 9.4p · +98% since the first step

22 Oct 2025 · Environmental plan approved; drilling approval pending · +0% until the next step This is the final step required ahead of Drilling Approval for the Hussar well

27 Oct 2025 · EMP approved; final drill approval awaited · +2% until the next step The company is currently awaiting final drill approval from (DMPE) which is anticipated to occur shortly.

31 Oct 2025 · Formal drilling approval received from DMPE · −15% until the next step The approval also enables the Company to commence works on infrastructure comprising access roads, drilling pad and airstrip to facilitate the mobilisation of a drilling rig and support equipment to s

20 Nov 2025 · Non-binding expression of interest received · −32% until the next step This proposal remains subject to the finalisation and execution of a formal JOA and agreed commercial terms for the drilling at EP513

19 Dec 2025 · Funding talks ongoing; offtake MOU extended separately · +107% until the next step The extension of the MOU does not affect the ongoing funding discussions regarding Hussar and Mt Winter, which remain priorities.

26 Jan 2026 · Harlequin formally confirmed funding; JOA governs drilling · −34% until the next step Harlequin has given notice to proceed with funding of the drilling of the Hussar-2 well within the EP513 Lease

16 Apr 2026 · Rig selected by letter of award; contract pending · +50% until the next step The contractual negotiations with Ensign have been extended, requiring further review, including rig availability in Q3 2026

20 May 2026 · Rig contract executed; supplier selection under way · +3% until the next step The Company's operations and technical consultancy teams will be travelling to site in June 2026 to undertake inspections of the access roads repairs, ensure site preparation, as well as the upgrades

29 May 2026 · Rig contracted; suppliers still to be agreed · +49% until the next step Long lead items to be ordered

2 Oct 2026 · ALRA terms agreed; settlement awaits tenement grant · +2% since The Company remains in priority discussions with Ensign Drilling to mobilise Rig 970 as soon as practical.

Project milestones

Hussar well drilling approvals

ALRA terms agreed; settlement awaits tenement grant

NOV15 Next: CLC and Traditional Owners formal authorisation meeting; tenement grant by NT Minister in 22 days

Every step · 10

22 Oct 2025 Environmental plan approved; drilling approval pending – This is the final step required ahead of Drilling Approval for the Hussar well ↗
27 Oct 2025 EMP approved; final drill approval awaited – The company is currently awaiting final drill approval from (DMPE) which is anticipated to occur shortly. ↗
31 Oct 2025 Formal drilling approval received from DMPE – The approval also enables the Company to commence works on infrastructure comprising access roads, drilling pad and airstrip to facilitate the mobilisation... ↗
20 Nov 2025 Non-binding expression of interest received – This proposal remains subject to the finalisation and execution of a formal JOA and agreed commercial terms for the drilling at EP513 ↗
19 Dec 2025 Funding talks ongoing; offtake MOU extended separately – The extension of the MOU does not affect the ongoing funding discussions regarding Hussar and Mt Winter, which remain priorities. ↗
26 Jan 2026 Harlequin formally confirmed funding; JOA governs drilling – Harlequin has given notice to proceed with funding of the drilling of the Hussar-2 well within the EP513 Lease ↗
16 Apr 2026 Rig selected by letter of award; contract pending – The contractual negotiations with Ensign have been extended, requiring further review, including rig availability in Q3 2026 ↗
20 May 2026 Rig contract executed; supplier selection under way – The Company's operations and technical consultancy teams will be travelling to site in June 2026 to undertake inspections of the access roads repairs,... ↗
29 May 2026 Rig contracted; suppliers still to be agreed – Long lead items to be ordered ↗
2 Oct 2026 ALRA terms agreed; settlement awaits tenement grant – The Company remains in priority discussions with Ensign Drilling to mobilise Rig 970 as soon as practical. ↗

What is happening

Georgina Energy plc: Hussar well drilling approvals – ALRA terms agreed; settlement awaits tenement grant. ['ALRA terms agreed; settlement awaits tenement grant']

In short: Terms with Mosman Oil & Gas were agreed and the acquisition was subject to completion as of the 29 May 2026 results. The 2 Oct 2026 update says ALRA terms are agreed by all parties. A final CLC and Traditional Owners authorisation meeting is planned for mid-November. Settlement, including AU$300,000 from working capital, follows the grant of the tenement.
Announced: 22 Oct 2025 · Environmental plan approved; drilling approval pending
Latest: 2 Oct 2026 · Site ready; flooding delays rig mobilisation
Status: Terms agreed with Mosman Oil & Gas; subject to completion
Next milestone: Final formal authorisation meeting mid-November 2026
Then: Submit Well Management, HSE and Environmental plans to NTDME
Payment: AU$300,000 from working capital on tenement grant by NT Minister
Seller: Mosman Oil & Gas (now Quantum Helium)
Site work: Civil engineering access and site evaluation planned late October 2026
Resources: 2U/P50: 234 BCF helium, 214 BCF hydrogen, 1.7 TCF gas

What comes next

CLC and Traditional Owners formal authorisation meeting; tenement grant by NT Minister (15 Nov 2026).

From the company's own announcements. Not investment advice.

Briefing

Georgina Energy plc in 4 minutes

Georgina Energy is a pre-revenue explorer that wants to produce helium, hydrogen and natural gas from old wells in Western Australia and the Northern Territory. It reached London's main market in July 2024 by taking...

Act 1From a cash shell to a helium explorer
Act 2The first well keeps slipping
Act 3Small raises, a failed deal and a US$25m facility

Read the briefing →

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