19th Aug 2025 11:44
(Alliance News) - Georgina Energy PLC on Tuesday said the aboriginal land rights act agreement process is advancing relating to its Northern Territory EPA155 Mt Winter tenement application in Australia.
The onshore helium, hydrogen and hydrocarbon prospects company said the agreement is necessary for the granting of the selected priority area of EPA155 by the Northern Territory Minister for the Department of Mining and Energy.
The Central Land Council found "no major impediments" to the drafting of the agreement, and Georgina Energy said it expects to receive the first draft shortly.
Once the agreement is finalised, it will allow the company to complete on the share purchase agreement and acquire 100% ownership of the Mt Winter tenement from Mosman Oil & Gas Ltd.
The agreement will include Mt Winter-1 and two further historical wells drilled on EPA155, which are both under active review for their sequential re-entry potential, Georgina Energy noted.
The firm said recent reprocessing and remapping of existing seismic data has expanded the prospective resource target area at EPA155. This has resulted in a 38% increase in 2U/P50 recoverable resources.
"The company remains confident in finalising the ALRA agreement, which will include the decision to accelerate the Mt Winter re-entry. While the new Mereenie production agreement has caused a brief delay, we continue to work in partnership with the CLC and the traditional owners to expedite an agreement and unlock the expanded potential of EPA155," said Chief Executive Officer Anthony Hamilton.
"Alongside this, following submission of our revised environmental management plan also look forward to providing further updates regarding drilling permit approval at Hussar EP513."
Shares in Georgina Energy were up 9.0% at 5.17 pence in London on Tuesday morning.
By Michael Hennessey, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Georgina EnergyMosman Oil & Gas