Georgina Energy, a helium and hydrogen exploration company with strategic permits in Australia, has executed a drilling contract with Ensign Australia for the supply of the Ensign 970 drill rig for the upcoming drilling at its 100% owned Hussar prospect in EP513, in Q3 2026.
The Hussar prospect lies in the Officer Basin, Western Australia in exploration permit EP513 (SPA 0036). Georgina Energy intends to re-enter and deepen 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 previously guided drill testing timeline of Q3 2026 is unchanged, and the drill program is planned for 50 days from spud to completion, subject to any changes deemed necessary as the program evolves.
The rig specification is an Automated Drilling Rig-1500 model with a hook load (capacity to lift drill string, tools etc) of 750,000 lbs, capable of drilling to 5,000m depth with 5" drill pipe (prognosed TD of the Hussar well is c.2,800m). The contract terms include contractor obligations, mobilisation, main camp operations, water supply, technical support, key personnel requirements, safety obligations and terms of Force Majeure.
Having received multiple responses to the Requests For Quotes issued, Georgina's technical consultant Aztech Well Construction is reviewing 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.
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 made to the airstrips, including the supply of an authorised wind directional equipment, along with the preparation of the drill pad and accommodation pad.
The pre-drill site inspections are planned along with work programs to be 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 drilling program and site infrastructure works required to develop Hussar into a producing asset will be funded solely by Harlequin and their partners.
Following completion of the pre-drill site inspections, selected images will be posted on the Georgina website for shareholders to view.
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 and I am very pleased to have executed a contract for the supply of an Ensign Drill rig. The necessary preparatory planning and civil engineering works required are soon to be underway to enable the drill testing of this exciting prospect in Q3 2026. With 300 km2 of areal closure, the Hussar prospect is one of the largest subsalt Helium, Hydrogen and Hydrocarbons prospects on-shore in Australia.'
Source: Georgina Energy
