Georgina Energy PLC (LSE: GEX), a helium, hydrogen and natural gas exploration company with strategic permits in Australia, has announced meaningful progress at its Hussar EP513 project in Western Australia. The company has placed a wellhead equipment order with specialist manufacturer Cactus Wellhead and formally notified Ensign regarding mobilisation of the contracted Ensign 970 drilling rig. All civil engineering and site preparation works at the Hussar wellsite have now been completed, marking a significant operational milestone for investors tracking the company's path to first drill.

Key Points

  • Georgina Energy PLC (LSE: GEX) — helium, hydrogen and natural gas explorer focused on Australia
  • Wellhead equipment ordered from Cactus Wellhead; Ensign notified for Ensign 970 rig mobilisation at Hussar EP513
  • Hussar prospect carries unrisked 2U Prospective Resources of 283 BCF helium, 315 BCF hydrogen and 2.93 TCF hydrocarbon gas per an independent geological report dated 1 February 2026
  • Investors should watch for confirmation of a revised spud date, heavy vehicle access arrangements, and regulatory approvals for the proposed seismic programme

Cactus Wellhead Order and Ensign 970 Mobilisation Signal Drilling Progress at Hussar

Georgina Energy confirmed it has placed an order with Cactus Wellhead, a specialist wellhead equipment manufacturer, for equipment required by the planned Hussar drill programme. Simultaneously, Ensign has been formally notified regarding mobilisation of the Ensign 970 drilling rig, which is already under contract with the company. Site preparation works have been fully completed and contractors and equipment have demobilised from site. The announcement states that a revised spud date will be communicated in due course, alongside additional site photographs available via the Georgina Energy website.

Eagle Highway Route Improvements and Heavy Vehicle Access Arrangements Under Development

Road access for heavy equipment mobilisation remains an active workstream. The announcement states that further improvements have been made along the Eagle Highway route from the Mangkili turn-off on the Gunbarrel Highway to the Hussar wellsite. Consulting engineers Aztech Well Construction and Ingenua are developing alternative routes, including a path via Leonora along the Great Central Road and David Carnegie Highway. Light vehicle access via roads administered by Wiluna Shire Council continues. Security fencing has also been installed around the lined water storage pond to prevent wildlife entering the wellsite.

Formal Seismic Programme Applications Submitted to DMPE, Funded by Harlequin Energy

In parallel with drilling preparations, Georgina Energy has submitted formal applications to the Western Australian Department of Mines, Petroleum and Exploration for the proposed Hussar seismic programme. The survey would involve approximately 30 days of fieldwork using lightweight seismic techniques designed to minimise environmental disturbance. Regulatory and Traditional Owner cultural heritage approvals are pending. The programme budget is being finalised and is intended to be funded by Harlequin Energy, though the specific budget figure was not disclosed in the announcement.

Hussar Unrisked Resource Estimate Underpins Scale of Potential Development

The Hussar prospect is supported by an Independent Geological Report dated 1 February 2026, prepared by Competent Person Mr Maki Petkovski. The report estimates unrisked SPE PRMS net attributable 2U Prospective Resources of 283 BCF helium, 315 BCF hydrogen and 2.93 TCF of hydrocarbon gas. Applying reference prices of US$450/MCFG for helium, US$2.65/kg for hydrogen and US$8/MCF for hydrocarbon gas, the company states these volumes equate to a combined unrisked potential in-situ value of approximately US$152 billion. The company cautions that these figures exclude production, separation and transport costs, and that there is no certainty any resources will be commercially recovered.