Aspirations to become a global top five production company in the helium and hydrogen market is the clear message from Georgina Energy
“…Mark and I have invested £2.5m of our own money here. We haven’t taken a salary for the first five years. We have no other distractions, this project is our total focus…”
While many news headlines this year have been assigned to the departure of companies from the London Stock Exchange, it is more than refreshing to learn about those wanting to list on the LSE because it is still held in high regard around the globe and membership opens doors.
It took five years for Georgina Energy to engage with shareholders on that stock exchange via a reverse takeover in July, although the story that is associated with the company’s primary assets is decades old.
It concerns the two hundred drilled and abandoned wells starting in the 1960’s in Western Australia, the Northern Territory and South Australia which were initially examined for oil. What was more prolific was gas in the ratios of excess of 9% helium and 11 to 12% hydrogen.
Those are the percentages quoted by Georgina’s chief executive Anthony ‘Tony’ Hamilton who understands the need for these industrial gases, has forensic knowledge of these wells and knows the remotest parts of Australia courtesy of a curious and pioneering policeman father.
Growing up in the outback Hamilton respects the aboriginal and the indigenous and native landowners are so far on board with the company’s aspirations to explore Georgina’s Hussar and Mount Winter targets. It is particularly helpful that one of the company’s consultants is an aboriginal indigenous elder who is negotiating the native title access agreements.
It is also reassuring that the founders of Georgina have a significant amount of their own money invested. In total Hamilton and CFO Mark Wallace have put £2.5 million of their own money into a concept they are confident will soon be in commercialisation.
“Our aspiration is to become a global partner in the helium and hydrogen market through our well redevelopment programme,” says Hamilton. “We want to become number four in the world for helium and hydrogen. I’m not doing this to sell to somebody. We are doing this to turn it into a major production company in the helium and hydrogen market.”
As Tony explains to Sarah Lowther in this video interview, coffers in future will be filled by revenue generated by selling gas at the wellhead with development costs potentially reimbursed by an offtaker.
Read the company’s presentation
Georgina Energy featured in our ‘The Race for Helium’ special
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The author was remunerated but does not hold shares in the company
