Georgina Energy’s subsidiary Westmarket Oil & Gas has received preliminary approval for its Well Management Plan at the Hussar site from Western Australia’s Department of Mines, Petroleum and Exploration.
However, the London-listed company cannot begin site preparation or drilling until it secures final approval for expanded environmental management plans under state regulations.
The environmental hurdle represents the remaining barrier before drilling can commence at the Hussar-2 well.
Once environmental approval is granted, Georgina Energy will repair the Hussar airstrip and access roads, construct drilling and camp facilities, and install water wells ahead of operations.
“Georgina’s operations team has worked on all the required obligations for the Hussar drilling permit approval in cooperation with the indigenous community representatives,” said Anthony Hamilton, Chief Executive Officer of Georgina Energy. “We await approval for our extended environmental plan, and look forward to receiving the final drilling approval once all obligations and approvals have been obtained.”
Georgina Energy shares were flat at the time of writing.
The company completed a reverse takeover in 2024, raising £5m at 12.5p during the height of London’s helium hysteria. Georgina Energy shares are down 50% to 6.6p since the reverse takeover was completed.