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ADDITIONAL WELL RE-ENTRY OPPORTUNITIES
ADDITIONAL WELL RE-ENTRY OPPORTUNITIES.
About this update from Georgina Energy Plc
[{"type":"text","content":"\n\n \n29th August 2024\n \nTHIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF (A) ARTICLE 7(1) OF UK MAR IN SO FAR AS IT RELATES TO ORDINARY SHARES ISSUED BY GEORGINA ENERGY PLC\n \nGeorgina Energy plc\n(\"Georgina\", \"Georgina Energy\" or the \"Company\")\n \n ADDITIONAL WELL RE-ENTRY OPPORTUNITIES & OPERATIONAL UPDATE\n \nGeorgina Energy Plc, GEX.L is pleased to announce progress on the evaluation of additional high potential targets for its well re-entry and development program, and an update on its core Hussar and Mt Winter prospects.\n \nAdditional Well Re-Entry Opportunities\n \nGeorgina's technical team is evaluating potential additional well re-entry targets within the Centralian Superbasin, including the Amadeus and Officer Basins, covering 2 million km² of Neoproterozoic to Cambrian sediments, with potential to recover material volumes of helium, hydrogen and natural gas.\n \n· 10 priority targets have been identified, of a possible 168 currently plugged and abandoned wells, complementing the Hussar and Mt Winter prospects, all meeting Georgina's cost and risk criteria for re-entry and flow testing.\n· The top two candidates for re-entry will be determined, subject to ownership and rights to the wells.\n· As part of this evaluation process and re-entry strategy, the Company has executed a Confidentiality Agreement with a well-established producing Australian Oil & Gas exploration & production company.\n· We look forward to updating shareholders on the potential broadening of our portfolio of assets.\n \nCore Activity\n \nGeorgina continues to advance its Hussar and Mt Winter prospects:\n \n· Approval has been sought to re-enter the Hussar 1 well extending its original depth of 2040 metres to c.3400 metres to penetrate the subsalt Townsend Formation, analogous to the helium, hydrogen and gaseous hydrocarbon bearing Heavitree formation in the Amadeus Basin. In line with previous guidance, Georgina expects drilling operations to commence in December. \n \n· Pending approval following the 11 September 2024 on-gro...