Georgina Energy PLC on Monday said that it has signed a contract to manage the well re-entry at Hussar EP513 in the Officer Basin.
Georgina Energy is currently focused on developing onshore helium, hydrogen and hydrocarbon prospects in Western Australia and the Northern Territory. The Hussar Prospect is located in the Officer Basin in Western Australia.
The firm has engaged Aztech Well Construction to project manage re-entry of the well, it explained.
Westmarket Oil & Gas Pty Ltd, Georgina Energy’s wholly owned operating subsidiary, expects that the well re-entry programme will start in December, subject to the grant of a drilling permit.
‘Georgina Energy has spent the past five years investing over £6.5million, with £2.5million 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,’ said Chief Executive Officer Anthony Hamilton.
Shares in Georgina Energy were trading 0.4% lower at 11.80 pence each in London on Monday afternoon.
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