Georgina Energy, a helium and hydrogen exploration company with strategic permits in Australia, has announced the payment, to Ensign Australia, of the deposit for the supply of the Ensign 970 drill rig for the scheduled Q3 2026 drilling work at the 100% owned Hussar prospect EP513.
The Hussar prospect lies in the Officer Basin, Western Australia in exploration permit EP513 (SPA 0036). Georgina Energy intends to drill the EP513 Hussar well to a depth of 3,200m, targeting the primary subsalt reservoir formations, including the Townsend Formation and the fractured Neoproterozoic basement lithologies, for helium, hydrogen and natural gas.
Independent consultants confirmed that Hussar has the required elements to yield net attributable 2U Prospective Resources of 155 BCFG Helium & 173 BCFG hydrogen with a potential combined in-situ value of US$55 billion (He US$350/MCFG, H US$2.65/kg) and net attributable 2U Prospective (recoverable) Resources of 1.73 TCFG of Natural Gas with potential in-situ value of US$5.24 billion.
The drill testing timeline of Q3 2026 remains unchanged, and the drill program is planned for 50 days from spud to completion, subject to any changes deemed necessary as the program evolves.
Georgina's technical consultants Aztech Well Construction are working with suppliers for 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. In addition, we are working with the traditional Owners to ensure compliance to all our obligations.
Contractors Renovating the Main Access Road
The pre-drill site inspections are important to confirm the work programs have been completed to ensure compliance with the Department of Mines, Petroleum and Exploration's approved Well Management Plan lodged by Georgina's wholly owned operating subsidiary Westmarket Oil & Gas Pty Ltd in 2025.
The Company's operations and technical consultancy teams will be travelling to site in this month of June 2026, to undertake inspections of the access road repairs, ensure site preparation, clear access for the water well drilling, preparation of the drill and accommodation pad.
Contractors Repairing Access roads along the Gunbarrel Highway.
The water bore drilling rig is expected to drill a maximum of two water bores on the Hussar site by the end of July 2026.
The contracted Ensign Rig 970 is currently located in the North Perth Basin before being mobilised to site for Georgina once the access, site, airstrip and water well drilling works have been completed.
The drilling program and site infrastructure works required to develop Hussar into a producing asset will be funded solely by Harlequin and their partners.
Anthony Hamilton, Chief Executive Officer of Georgina Energy, commented:
'Georgina is fully committed to the drilling and development of its wholly owned Hussar EP513 Project. We are pleased the deposit for Drill Rig Mobilisation for the supply of an Ensign Drill rig has been paid. The necessary preparatory planning and civil engineering works required have commenced in order to enable the drill testing of this exciting prospect in Q3 2026. With 300 km2 of a real closure, the Hussar prospect is one of the largest subsalt Helium, Hydrogen and Hydrocarbons prospects on shore in Australia.'
Source: Georgina Energy
