REG - Mining, Minerals&Mtl - EPA155 Mt Winter Update

Georgina EnergyAnnouncement

09/08/2024 09:15

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RNS Number : 9096Z  Mining, Minerals & Metals PLC  09 August 2024

 

9(th) August 2024

 

 

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

 

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

 

EPA155 Mt Winter Update

 

Mining Minerals & Metals plc (to be re-named Georgina Energy Plc) GEX.L is
pleased to announce the following Mt Winter EPA155 update.

 

Further to the Company's Operational Update of the 8(th) August 2024 we are
pleased to confirm the Company has received a formal invitation from the
Central Land Council to attend an on-ground meeting on the 11(th) September
2024 in Alice Springs for the purposes of approving negotiations leading to
the granting of the EPA 155 application.

 

Mining, Minerals & Metals plc is in the process of legally changing its
name to Georgina Energy plc and this change is expected to be finalised
shortly.

 

Meeting Traditional Aboriginal Landowners

 

·    EPA155 Mt Winter: Westmarket Oil & Gas Pty Ltd, the wholly owned
subsidiary of Georgina Energy PLC as operator of EPA155, has now received a
formal request as the operator of the Westmarket /Oilco Farmin partnership to
meet the Traditional Aboriginal Landowners to present the company's plans for
the exploration, development and re-entry at EPA155 Mt Winter. The meeting
will see the Company representatives seek the consideration of the traditional
aboriginal landowners to the granting of the exploration permit EPA155. As
part of this process, the Company will contribute to The Central Land Council
the costs and expenses of the meeting. Should the traditional landowners
consent, the Company will expedite its commitments under the farm-in agreement
to earn its initial 75% interest.

 

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

"Our Indigenous Consultant has worked tirelessly to obtain this meeting and
allow Georgina Energy to make representation on behalf of the farm-in partners
to the traditional Aboriginal landowners. We will outline our plans and
ultimate goals of delivering a positive outcome to the indigenous community
and delivering low-risk projects in Australia for the development of our
natural gas, hydrogen and helium projects through our well re-development
programme at EPA155 Mt Winter."

 

About Georgina Energy

 

Significant Gas Potential

 

Georgina holds 100% of the working interest in the Hussar Prospect and has a
right to earn a  75%  interest  in  the  EPA155 Mt  Winter  Prospect
(with  the  potential  to  reach  90%) covering 3,951 Km² held over the
two project areas in Western Australia, a proven region with significant gas
potential.

 

Hussar Prospect

 

The Hussar Prospect hosts unrisked 2U Prospective (Recoverable) Resources of
c.155 BCFG (155 million MCF) of Helium and c.173 BCFG (173 million MCF) of
Hydrogen, and c.1.75 TCFGE of Hydrocarbons.

 

Hussar is considered by independent consultants to be one of the most
potentially lucrative resource basins in the Asia Pacific region due to its
significant helium, hydrogen, oil & natural gas potential.

 

Subject to permitting and processing of additional seismic and AEM-PTP
surveys, Georgina anticipates re-entering and deepening Hussar during 2024.

 

EPA155 Mt Winter Prospect

 

The EPA155 Mt Winter Prospect hosts unrisked 2U Prospective (Recoverable)
Resources of c.148 BCFG (148 million  MCF)  of  helium  and  c.135
BCFG  (135  million  MCF)  of  hydrogen,  and  c.1.22  TCFGE (Trillion
Cubic Feet Equivalent) of hydrocarbons.

 

The EPA155 Mt Winter-1 well was drilled in 1982 to a depth of 2,650m TD but
did not penetrate the subsalt Heavitree Formation hydrogen, helium &
natural gas reservoir target but reached TD in salt just above it. All 3
previously drilled wells have penetrated the Heavitree and encountered high
concentrations of helium (up to 9%) and hydrogen (up to 11%).

 

Georgina has an initial programme to complete seismic and then re-enter the
existing well to develop the gases.

 

Highly Experienced Management Team

 

The Board is comprised of experienced professionals in the oil & gas
exploration space with technical capacity and an expert understanding of
development and sales. Anthony Hamilton (Chief Executive Officer) has over 35
years' extensive experience in mining, oil & gas and exploration and
production.  Mark Wallace (Chief Finance Officer) has over 25 years'
experience in the global financial markets. John Heugh (Executive Technical
Director) has over 50 years of experience and was the founding director and MD
of Central Petroleum Ltd listed on the ASX. Roy Pitchford (Non-Executive
Director) brings over 30 years' executive and managerial expertise during his
career in the resource development area.

 

Differentiated and Low Risk

 

Georgina adopts a low risk, differentiated strategy and is already well
advanced in its exploration activities in relation to its UK peer group as it
is essentially a well re-redevelopment company. There is proven gas flowing
from the original drilled wells, established infrastructure for the projects
as well as a recognised supply chain. Both target sites have previously been
drilled and the road access remains usable. Georgina intends to supply from
the wellhead under off-take agreements to mitigate infrastructure costs. Given
the established infrastructure and reliable supply chain, the Board and
management team are aiming for Georgina to become a leading global producer of
helium and hydrogen.

 

Helium Market Dynamics

 

Georgina gives investors a chance to benefit from supply and demand dynamics.
There is a global short supply of helium and significant increases in demand,
including space launch usage, has led to further price increases.

 

 

END

 

Enquiries

 

Georgina Energy

 Tony Hamilton  via georginaenergy@apcoworldwide.com (mailto:georginaenergy@apcoworldwide.com)
 Mark Wallace

Tavira Financial Ltd - Financial Adviser and Joint Broker

 Jonathan Evans     +44 (0)20 3833 3719 (tel:+442038333719)
 Oliver Stansfield

 

Oak Securities - Joint Broker

 Jerry Keen       +44 (0)203 973 3678 (tel:+442039733678)
 Henry Clarke
 Dillon Anadkat

 

Financial PR via georginaenergy@apcoworldwide.com
(mailto:georginaenergy@apcoworldwide.com)

 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 O&G.  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.  The second,
the EPA155 Mt Winter Prospect, is located in the Amadeus Basin in the Northern
Territory, which Georgina Energy has a right to earn an initial 75 per cent.
interest in (with the potential to reach 90 per cent.).

 

In line with market demand trends, Georgina Energy is well-positioned to
capitalize on the growing gap between supply and demand for hydrogen and
helium with the resource potential of EPA155 Mt Winter and Hussar projects for
their potential accumulations.

 

For more information visit https://www.georginaenergy.com
(https://www.georginaenergy.com/)

 

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