Georgina Energy Unveils Promising Resource Upgrade at Mt Winter Prospect
Key Ideas
- Significant resource upgrade at Mt Winter prospect with shallower target depth and increased helium and hydrogen resources.
- Identification of new 60km² structural closure in permit area offers further exploration opportunities.
- Reentry planning and engineering work in progress, alongside negotiations for exploration permits under ALRA.
- Company's revamped website provides more interactive and investor-friendly experience.
Georgina Energy PLC CEO Anthony Hamilton discussed a notable resource upgrade at the Mt Winter prospect after reprocessing and interpreting seismic data. The Heavitree formation was found to be shallower than expected, reducing the target depth to 2,900m from 3,200m. This upgrade led to a 15% increase in net attributable 2U helium and hydrogen resources, as well as a 3% uplift in hydrocarbons. The company's new resource estimates for helium are 127 at 75% and 169 at 100% ownership. Additionally, a new 60km² structural closure in the permit area was identified, showing promise for further exploration due to historical concentrations of helium and hydrogen. Georgina Energy is progressing reentry planning and engineering work and negotiating exploration permits under the Aboriginal Land Rights Access Agreement (ALRA). The CEO highlighted the complete acquisition of the oil company, increasing the legal ownership from 75% to 100%. A more interactive and investor-friendly website has been launched to provide additional information to investors.
Topics
Investing
Investor Relations
Company Update
Resource Upgrade
Seismic Interpretation
Exploration Permits
Website Revamp
Oil Acquisition
Aboriginal Rights Agreement
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