Georgina Energy Plc (LON: GEX) has confirmed that preparations for drilling its Hussar helium, hydrogen and natural gas prospect in Western Australia remain ongoing, although adverse weather and restrictions on heavy vehicle movements have delayed the mobilisation of its Ensign 970 drilling rig.
The company said it has completed all civil engineering and site preparation work at Hussar EP513, and contractors have now demobilised their equipment following the successful preparation of the drilling location.
Attention has shifted to developing a revised mobilisation plan with Ensign Energy Services, as continuing road closures and variable weather conditions restrict the movement of heavy drilling equipment across Western Australia.
The proposed mobilisation schedule is expected to take approximately eight to ten weeks from formal authorisation to commence, although the timetable remains dependent on suitable road access and operational arrangements.
The initial phase involves four to five weeks of rig reactivation work, including ordering replacement items and preparing the Ensign 970 rig at its current Waylering location.
During this period, accommodation and support facilities will be mobilised from Port Augusta in South Australia.
Transporting the rig to Hussar is expected to require approximately three weeks, followed by a further one to two weeks to assemble the equipment and prepare for drilling.
The company has not yet confirmed a revised drilling commencement date.
Georgina and its technical advisers are evaluating alternative transport routes to overcome existing heavy vehicle restrictions and improve access to the remote site.
One option being considered involves travelling through Leonora along the Great Central Road, before heading north along the David Carnegie Highway and Eagle Highway.
The company is working with consultants Aztech Well Construction and Ingenua to assess route suitability and ensure the safe transportation of personnel and equipment.
Mobilisation costs are also expected to increase, reflecting the extended period during which the drilling rig has remained inactive, additional transport equipment requirements, longer routes and higher fuel prices.
Georgina said the additional costs would be allocated between Ensign Energy Services and Westmarket Oil & Gas, although the overall financial impact has not yet been disclosed.
The Hussar EP513 prospect is located in Western Australia’s Officer Basin and is targeting helium, hydrogen and natural gas within deep geological formations.
The planned well will primarily investigate subsalt reservoirs, including the Townsend Formation and fractured Neoproterozoic basement rocks, with a proposed total drilling depth of approximately 3,200 metres.
The well could be extended beyond this depth depending on gas indications and the quality of the reservoir formations encountered.
Secondary targets include the Kanpa and Hussar formations, which have previously demonstrated hydrocarbon indications and encouraging reservoir porosity but remain insufficiently tested.
An independent geological report published in February 2026 estimated net attributable, unrisked 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 at Hussar.
Using illustrative commodity prices, Georgina has calculated a combined potential in-situ value of approximately US$152 billion for these prospective resources.
However, this figure represents a theoretical gross value of hydrocarbons and gases potentially contained underground, rather than an independent project valuation, recoverable asset value or forecast revenue.
The resources are prospective and unrisked, meaning their existence and commercial recoverability have not yet been established through drilling. The calculation also excludes production, processing, separation, transportation and development costs.
The upcoming Hussar well is therefore a significant exploration test, with results needed to establish whether the geological targets contain commercially recoverable quantities of helium, hydrogen or natural gas.
Chief Executive Anthony Hamilton said the company was working closely with Ensign to facilitate mobilisation as quickly as possible while maintaining safety as the principal operational priority.
He expressed confidence that the weather-related access difficulties could be addressed through careful planning and reiterated that drilling Hussar remained the company’s primary development objective.
For investors, the completion of site preparation represents operational progress, but the continuing transport restrictions introduce further uncertainty over the drilling timetable and associated costs.
The proposed eight-to-ten-week mobilisation period will begin only once the necessary authorisation is issued, while the wider schedule remains exposed to weather conditions and road accessibility.
Attention will now turn to securing a viable heavy transport route, completing rig reactivation and confirming a revised spud date, as Georgina Energy prepares to test the helium, hydrogen and natural gas potential of its Hussar EP513 prospect.
