Georgina Energy reports major progress toward production in FY25 update
() , an Australia-focused natural resources explorer, announced its final results for the year ended January 31, 2025 (FY25). Georgina's core projects are the EP513 Hussar prospect in the Officer Basin, Western Australia and the EPA155 Mt Winter Prospect in the Amadeus Basin, Northern Territory, both targeting significant prospective resources of natural gas, hydrogen and helium.
Georgina noted several key milestones in FY25, including the reverse takeover of Mining, Minerals, and Metals and resulting £5m raise in July 2024. Portfolio-wise, the group achieved a 20% resource upgrade at its EP513 Hussar project in Western Australia alongside an expansion of the resource area by 50 km2. Formal drilling approval for Hussar is expected in the coming weeks.
also agreed to acquire the remaining interest in its other core asset - the EPA155 Mt Winter project in Northern Territory - from Mosman Oil & Gas, bringing the project under 100% ownership. Following seismic reprocessing, Mt Winter saw a 15% increase in helium and hydrogen resources, alongside the addition of a new 60 km2 structural closure.
At period-end, held a cash balance of £1.2m following the fundraise in July 2024. The funding provided the capex to advance the company's drilling programmes in FY25 and maintain strong momentum through 2025.
requested a suspension from trading on the LSE Main Market due to a delay in finalising its FY25 audit. With the audited final results now published, the suspension is expected to be lifted shortly.
Anthony Hamilton, CEO of Georgina Energy, commenting: "We are pleased to publish the audited FY 2025 and now look forward to lifting the suspension of trading subject to FCA approval in the forthcoming days. Whilst we understand the frustration of the recent suspension, Georgina continues to focus on multiple workstreams to fulfil obligations for the Hussar drilling permit approval and completion of the Mt Winter acquisition along with preparing the re-entry plans for Mt Winter. We look forward to providing further updates in relation to our efforts and would like to thank shareholders for their patience and support."
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Georgina summarises a year of significant progress toward production in its FY25 results. With the accounts now published, investors can expect the LSE trading suspension to be lifted momentarily.
After successfully completing the reverse takeover of , which raised gross proceeds of £5m in July 2024, the company went on to advance its core projects in Australia - the EP513 Hussar prospect in the Officer Basin and the EPA155 Mt Winter Prospect in the Amadeus Basin. Over the past year, the early-stage resource company developed and expanded both assets significantly.
Hussar is considered one of the most lucrative resource basins in the Asia-Pacific region. Following a 20% resource upgrade, the asset is estimated to host unrisked 2U prospective resources of 196 bcfg of helium, 218 bcfg of hydrogen and 2.03 tcfg of hydrocarbons. Formal drilling approval is expected within weeks following submission of required documentation to DEMIRS (Australian mining regulator).
Hussar remains on track to unlock significant value, further boosted by a recent expansion of its structural closure by 50km2 within the existing permit area. The extension should unlock additional well targets and prospective resources.
Additionally, 's post-period full acquisition of the EPA155 Mt Winter prospect in the Amadeus Basin, Northern Territory, brought the group's entire Australian portfolio under 100% ownership. Georgina bought the remainder of EPA155 from Mosman for a relatively low price of AU$350k, in line with Mosman's recent disposal strategy. Mt Winter also saw the addition of a second, larger target structure within the licence area, offering significant future potential to boost production.
Furthermore, in February 2025, announced a scoping study covering the two assets, confirming their excellent economics and potential to produce commercial quantities of helium, hydrogen, and natural gas. The study's base case established a robust framework for Hussar's commercial development, with a 40 MMscfd raw gals flow scenario, generating a 27.3% IRR and US$1.64bn NPV.
is also actively negotiating farm-in agreements targeting other areas with proven high concentrations of helium, hydrogen and hydrocarbons. Subject to successful binding farm-ins, these additional targets will become priority areas following completion of work at Hussar and Mt Winter.
While Georgina is still in the pre-revenue phase, FY25 marked substantial progress in de-risking its assets in Australia, and advancing toward drill-ready status. With a focus on launching its maiden drilling campaign at Hussar, the company is poised to unlock significant value in the coming year.
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