Mining, Minerals & Metals PLC CONTRACT SIGNED FOR HUSSAR WELL RE-ENTRY

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 [e-mail]
Mark Wallace

Tavira Financial Ltd - Financial Adviser and Joint Broker

Jonathan Evans	[phone]
Oliver Stansfield

 

Oak Securities - Joint Broker

Jerry Keen	[phone]
Henry Clarke
Dillon Anadkat

 

Financial PR via [e-mail]

Violet Wilson	[phone]
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

 

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