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Georgina Energy PLC on Thursday said it executed a memorandum of understanding for an off-take agreement with Halo Capital Investments Ltd relating to Georgina’s Hussar and Mt Winter projects in Australia. The onshore helium, hydrogen and hydrocarbon prospects company said that under the agreement, Halo has a 12-month non-exclusive option to fully buy the rights to helium, hydrogen and natural gas produced from Georgina’s current projects and any future projects. Further, Georgina’s subsidiary Westmarket Oil & Gas Pty Ltd is able to sell gas at the wellhead in its raw state under the agreement. Westmarket Oil has received formal notification from the regulator, Western Australia’s Department of Mines, Petroleum & Exploration, that all lodgement requirements for Hussar EP513 have been completed and accepted, Georgina added. Westmarket Oil now awaits final drilling approval from the department. Georgina Chief Executive Officer Anthony Hamilton said: ‘Georgina now has two off-take agreements in place, which provide a clear step towards commercialisation of the company’s assets and further support of its wellhead sales strategy. With the imminent granting of the Hussar drilling permit and the completion of the 100% acquisition of the Mt Winter project, the company is in a strong position for future growth.’ Separately, Georgina announced it raised £1 million via the issue of 20.0 million new shares at 5.0 pence each, with the net proceeds going to advance the ongoing work programmes relating to Hussar in Western Australia and Mt Winter in Australia’s Northern Territory, and for general working purposes. Georgina shares were 6.6% lower at 5.28 pence each on Thursday afternoon in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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