Helium exploration specialist Georgina Energy PLC (LSE:LON:GEX) has made progress on its EPA155 exploration permit application, which includes plans to drill the Mt Winter 1 well in Australia’s Northern Territory.
Following a meeting between the Central Land Council (CLC) and Traditional Owners in Alice Springs on 11 September, the CLC has been authorised to negotiate an agreement under the Aboriginal Land Rights Act. This is a key step towards granting Georgina the permit for its priority area.
The CLC has notified the Northern Territory Minister for Mining and Energy and the Commonwealth Minister for Indigenous Australians about the decision. The formal agreement will require ministerial ratification, and Georgina expects the process to take two to three months.
Once the permit is granted, Georgina will secure an initial 75% interest in the area through a farm-in agreement. The company will pay Oilco Pty Ltd $15,000 and begin seismic data analysis, site preparation, and regulatory work to advance the Mt Winter project to the pre-drill stage.
The project marks a significant step in Georgina’s exploration efforts. The company will finalise well design, prepare the site, and meet operational requirements ahead of drilling.
Georgina is also working on a Joint Operating Agreement with its venture partners to streamline operations. This milestone reflects the collaboration between Georgina, Traditional Owners, and government authorities.
"The granting of the revised Mt Winter Exploration Permit with the prospect will be seen as a significant milestone and the result of hard work undertaken by the Georgina team," said CEO Anthony Hamilton.
"We're very pleased to move forward with the development of Mt Winter, fulfil the outstanding requirements and pursue our low-risk, high-reward re-entry strategy."