Georgina Energy Plc (LON: GEX) has reported further progress towards drilling at its Hussar EP513 project in Western Australia, confirming the procurement of specialist wellhead equipment and the commencement of mobilisation preparations for the contracted Ensign 970 drilling rig.
The helium, hydrogen and natural gas exploration company said all civil engineering and wellsite preparation works have now been completed, with contractors and equipment demobilised following the installation of essential infrastructure.
Georgina has placed an order with Cactus Wellhead, a specialist manufacturer of wellhead equipment required for the planned drilling programme.
The company has also notified Ensign of the mobilisation of Rig 970, although final arrangements for transporting the rig to Hussar remain dependent on road accessibility and weather conditions.
The update represents further operational progress as Georgina prepares to evaluate the potential of the Hussar prospect, which hosts substantial independently assessed prospective gas resources.
Access infrastructure remains an important focus, with additional improvements completed along the Eagle Highway route between the Mangkili turn-off on the Gunbarrel Highway and the Hussar wellsite.
Georgina’s engineering advisers, Aztech Well Construction and Ingenua, are also examining alternative heavy transport routes, including access via Leonora, the Great Central Road and David Carnegie Highway.
These arrangements are intended to provide greater flexibility for transporting drilling equipment while navigating existing road closures and weather-related restrictions.
The company confirmed that light vehicles continue to access the project using roads administered by Wiluna Shire Council, while preparations for heavy vehicle movements remain ongoing.
Site security fencing has also been installed, including around the lined water storage pond, helping prevent wildlife from entering the operational area.
With the principal construction work complete, Georgina’s immediate priority is securing safe access for the drilling rig and associated equipment.
A revised drilling commencement date has not yet been confirmed, with management indicating that further updates will follow as mobilisation arrangements progress.
Alongside drilling preparations, Georgina has submitted formal applications for a proposed seismic survey at Hussar to the Western Australian Department of Mines, Petroleum and Exploration.
The survey is expected to involve approximately 30 days of fieldwork, using lightweight seismic equipment designed to minimise environmental disturbance and avoid the need for heavy vehicle access.
The programme remains subject to regulatory and Traditional Owner cultural heritage approvals, while its budget is being finalised.
Harlequin Energy is expected to fund the proposed seismic programme, providing additional technical support for the project’s exploration activities, although final funding arrangements have not been confirmed.
The seismic survey is intended to improve geological understanding of the prospect and assist future exploration and development planning.
Hussar’s resource potential is supported by an Independent Geological Report dated 1 February 2026, prepared by Competent Person Maki Petkovski.
The assessment identifies unrisked, net attributable 2U Prospective Resources of 283 billion cubic feet of helium, 315 billion cubic feet of hydrogen and 2.93 trillion cubic feet of hydrocarbon gas.
Using the company’s illustrative pricing assumptions of US$450 per thousand cubic feet of helium, US$2.65 per kilogram of hydrogen and US$8 per thousand cubic feet of hydrocarbon gas, Georgina estimates a combined potential in-situ value of approximately US$152 billion.
However, the US$152 billion figure is not a project valuation, revenue forecast or estimate of future profits. It represents a theoretical calculation based on unrisked prospective resource volumes and assumed commodity prices.
The estimate excludes drilling and development expenditure, extraction, processing, separation, transportation and other costs associated with bringing gas to market.
Crucially, prospective resources relate to potentially recoverable quantities from undiscovered accumulations, and there is no certainty that hydrocarbons, helium or hydrogen will be discovered in commercially recoverable quantities.
Chief Executive Anthony Hamilton described the ordering of wellhead equipment and mobilisation preparations as important milestones following completion of the site’s civil engineering works.
He emphasised the company’s continuing focus on transporting the Ensign 970 rig safely to Hussar and advancing the drilling programme.
Hamilton reiterated that evaluating Hussar’s helium, hydrogen and natural gas potential remains Georgina’s principal operational priority, with a successful drilling campaign potentially informing future development decisions.
The latest announcement confirms that Hussar’s physical site preparations are complete and key drilling equipment arrangements are progressing, but the project has not yet reached the drilling stage.
The principal outstanding operational challenge is the mobilisation of heavy equipment through remote Western Australian terrain, alongside the completion of necessary logistical arrangements.
Attention will now turn to confirmation of the rig mobilisation schedule, a revised spud date and the regulatory approvals required for the seismic programme, as Georgina Energy progresses towards testing the Hussar prospect’s substantial but still unproven resource potential.
