Georgina Energy upgrades resource estimates for Hussar helium and hydrogen project ahead of November drilling
Georgina Energy PLC (LSE:GEX) has announced an upgraded resource estimate for the Hussar helium and hydrogen project, in Western Australia’s Officer Basin.
Hussar’s unrisked prospective recoverable resources increase by around 20% with the new estimate comprising 185 billion cubic feet of helium and 205 billion cubic feet of hydrogen, whilst the hydrocarbon gas potential is estimated at 1.9 trillion cubic feet.
The upgraded estimates are based on new seismic data and mapping, which Georgina said confirms the presence of a substantial pre-salt structure covering 300 square kilometres in the Townsend Formation.
Today’s new estimate comes ahead of Georgina’s plans to re-enter the Hussar 1 Well in November. The drill programme will extend the well to a target depth of 3,200 metres to reach Townsend.
Chief executive Anthony Hamilton said in a statement.
We are delighted with the significant increase of resources at Hussar,
“Our planned preparatory site visit in November, followed by the commencement of operations in December, marks the realisation of a 5-year journey for the Georgina team. Alongside this, as we continue to make progress towards obtaining the relevant drilling approvals for Hussar we continue towards fulfilling requirements for the formal granting of EPA155 in the Northern Territory, the Mt Winter Prospect representing the next stage in our development programme.”
Hamilton added:
Our goal remains to achieve a positive outcome with our low-risk projects in Australia.
Georgina is working with Aztech Well Construction to submit the necessary documentation for drilling approvals from DEMIRS, and preparations for a site inspection in November are underway.
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Georgina Energy upgrades resource estimates for Hussar helium and hydrogen project ahead of November drilling, source
