REG - Mining, Minerals&Mtl - CONTRACT SIGNED FOR HUSSAR WELL RE-ENTRY

Georgina EnergyAnnouncement

19/08/2024 08:00

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RNS Number : 8989A  Mining, Minerals & Metals PLC  19 August 2024

 

19 August 2024

 

 

Mining, Minerals & Metals plc (to be re-named Georgina Energy Plc)

 

("Georgina" "Georgina Energy" or the "Company")

 

CONTRACT SIGNED FOR HUSSAR WELL RE-ENTRY

 

Mining Minerals & Metals plc (to be re-named Georgina Energy Plc) GEX.L is
pleased to announce the following Well Re-development Program.

 

The Company has engaged Aztech Well Construction to project manage the well
re-entry at Hussar EP513 in the Officer Basin. Aztech is highly experienced at
providing well project management and engineering solutions with over 14 years
of experience managing drilling operations in onshore Australia having drilled
over 40 wells in the Perth Basin between 2011 and 2023.

 

Re-entry Hussar EP513 Officer Basin Western Australia

 

·    Westmarket Oil & Gas Pty Ltd, Georgina Energy's wholly owned
operating subsidiary is anticipating the well re- entry program commencing in
December 2024, subject the granting of a Drilling Permit from DEMIRS.

·    The company plans to extend the original well drilled in 1982 to
2040m TD to 3400m to penetrate the subsalt Townsend Formation, the subsalt
target reservoir which has been independently assessed to host large volumes
of Helium, Hydrogen and gaseous hydrocarbon prospective recoverable resources.

·    Previous exploration wells drilled in the 1980's in the Officer Basin
targeted oil and did not penetrate the now targeted subsalt Townsend
Formation; the basal sandstone of the Officer Basin which is the lateral
equivalent to the Helium, Hydrogen and gaseous hydrocarbon bearing Heavitree
Formation in the Amadeus Basin; both basins being sub-basins of the
Neoproterozoic Centralian Superbasin.

·    The Company is currently completing the required process for
engineering design, HSE and environmental approvals as well as meeting its
obligations under the Native Title Land Access agreement.

·    The re-grading of the immediately adjacent airstrip along with site
preparations is proceeding as planned.

·    The Company and its consultants have also determined that the Hussar
1 wellhead top plate has an inspection valve fitted which will be inspected by
Aztech for any possible pressure buildup prior to re-entry.

·    Aztech's Senior Well Engineer, Connie Callison, has been assigned to
work with the Company's technical team. She has extensive and comprehensive
specialist experience in well intervention, drilling and completions, having
previously worked for Chevron in both Australia and the USA.

·    Georgina Energy has clearly stated its aspirations to become a global
partner in the Helium and Hydrogen market and this program forms a critical
part of its well re-development program.

 

 

Anthony Hamilton, Chief Executive Officer of Georgina Energy, commented:

"Georgina Energy has spent the past five years investing over GBP6.5million,
with GBP2.5million contributed by the Directors, to develop its strategy of
well re-development in Australia. This program aims to achieve positive
outcomes in the exploration for natural gas, hydrogen and helium.  The
execution of the Hussar contract marks the first step in proving this
concept."

 

 

END

 

Enquiries

 

Georgina Energy

 Tony Hamilton  via georginaenergy@apcoworldwide.com (about%3Ablank)
 Mark Wallace

Tavira Financial Ltd - Financial Adviser and Joint Broker

 Jonathan Evans     +44 (0)20 3833 3719 (about%3Ablank)
 Oliver Stansfield

 

Oak Securities - Joint Broker

 Jerry Keen       +44 (0)203 973 3678 (about%3Ablank)
 Henry Clarke
 Dillon Anadkat

 

Financial PR via georginaenergy@apcoworldwide.com (about%3Ablank)

 Violet Wilson  +44 (0)203 757 4980
 Letaba Rimell

 

 

Notes to Editors

 

Georgina Energy aims to become a leading player in the global energy market
and is focused on establishing itself among the top producers of Helium and
Hydrogen worldwide. With a strategic approach and leveraging the experienced
management team's expertise, Georgina Energy aims to capitalize on
opportunities in these critical energy sectors.

 

The projects benefit from established infrastructure and a reliable supply
chain, offering significant resource potential through low-risk,
cost-effective drilling projects.

 

Georgina Energy has two principal onshore interests held through its wholly
owned Australian subsidiary, Westmarket Oil & Gas.  The first, the Hussar
Prospect is located in the Officer Basin in Western Australia and Westmarket
O&G holds a 100% working interest in the exploration permit.  Georgina
also has a right to earn an initial 75% interest (with the potential to extend
to 90%) in a second prospect, EPA155 Mt Winter Prospect, is located in the
Amadeus Basin in the Northern Territory, subject to the granting of the permit
application.

 

In line with market demand trends, Georgina Energy is well-positioned to
capitalize on the growing gap between supply and demand for Helium and
Hydrogen with the independently verified prospective recoverable resource
potential of the Hussar and Mt Winter projects.

 

For more information visit https://www.georginaenergy.com (about%3Ablank)

 

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