Business
Hussar EP513 Drilling/Funding
Georgina Energy PLC has announced that Harlequin Energy Ltd has confirmed its intention to fund the drilling of the Hussar-2 well within the EP513 prospect, with a USD$25 million structured offtake funding facility that is non-dilutive for Georgina shareholders. This funding will cover the drilling program and site infrastructure works, aiming for the recovery of Helium, Hydrogen, and Natural Gas. The company has also revised its estimation of total prospective resources for the Hussar prospect, increasing Helium by 30% to 283 BCF, Hydrogen to 315 BCF, and Hydrocarbons to 2.9 TCF. Disclaimer*
About this update from Georgina Energy Plc
[{"type":"text","content":"\n\n \n \n26th January 2026\n \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 \n \n \nGeorgina Energy plc\n(\"Georgina\", \"Georgina Energy\" or the \"Company\")\n \n Hussar EP513 Drilling/Funding\n \n \nGeorgina Energy Plc, GEX.L advises Harlequin Energy Ltd ('Harlequin') has formally confirmed its intention to proceed with funding for the Hussar EP513 prospect for the anticipated recovery of Helium, Hydrogen and Natural Gas.\n \nHarlequin has given notice to proceed with funding of the drilling of the Hussar-2 well within the EP513 Lease and undertaken to complete site repairs to the airstrip and access roads, construction of drilling pads, water wells and camp location pad, in preparation for drilling as set out in the Memorandum of Understanding (\"MOU\") signed on 24th August 2024. The Company has undertaken due diligence and been provided with Harlequin's USD$25 million structured offtake funding facility to finance Georgina's drilling program.\n \nHUSSAR EP513: Harlequin has engaged Schlumberger Oilfield UK Limited to work in conjunction with Georgina's technical consultants (Aztech Well Construction) to proceed with the planning, engineering and drilling of an exploration well at Hussar. Harlequin will fund the Hussar drill program in a structured offtake financing arrangement.\n \nThe drilling program and site infrastructure works required to develop Hussar into a producing asset will be funded solely by Harlequin and their partners in a structured offtake funding arrangement that is non-dilutive for Georgina shareholders.\n \nThe structured offtake funding arrangement is Georgina's preferred approach to financing future drilling, as it enables gas sales at the wellhead while avoiding significant capital outlay by the Company, thus making it a non-dilutive solution for shareholders.\n \n \nDrilling Program\n \nGeorgina's technical consultant, Aztech Well Construction have identified four drill rigs available in Australia that meet the required specifications for the 50-day drilling program.\n \n· &n...