Mining, Minerals & Metals PLC Replacement: EPA155 Mt Winter Update

RNS Number : 9123Z

Mining, Minerals & Metals PLC

09 August 2024

 

 

The following amendment has been made to the 'EPA155 Mt Winter Update' announcement released on 09/08/2024 at 09.11 under RNS No 9096Z

 

Under Significant Gas Potential, "in the Northern Territory" has been added as a project area in addition to Western Australia.

 

All other details remain unchanged.

 

The full amended text is shown below.

 

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 the Northern Territory and 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 [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 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

 

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