Georgina Energy (GEX) has provided an update on preparations for drilling at Hussar in EP513, including early work on requests for quotation and supply (RFQs) and a planned site inspection in mid February.
The company said its technical consultant, Aztech, has begun the RFQ process to support the planned drilling programme. Preliminary indications suggest the Explorer Rig is suitable for the job and could be available, subject to final confirmation by 25 February.
In addition, Georgina’s representatives and technical consultancy team are due to travel to site on 12 February 2026 to inspect conditions and evaluate work programmes. The focus is on ensuring the Hussar well can commence promptly after site and access works, including repairs to the airstrip, access roads, and preparation of the drill pad and accommodation pad.
The planned programme is designed to test the main target reservoirs, namely the subsalt Townsend Formation and fractured basement lithologies. The operating agreement is expected to see Harlequin, Schlumberger and Aztech plan site activities in line with the Government (DMPE) approved Well Management Plan lodged by Georgina in 2025. Georgina added that drilling and related infrastructure works are to be funded solely by Harlequin and its partners through a structured offtake funding arrangement that is non-dilutive for Georgina shareholders.
Georgina Energy’s chief executive officer Anthony Hamilton said: “We're pleased to be progressing rig selection for drilling and will be conducting a site inspection from 12th February. The site and access works planned are designed to best prepare us for drilling in Q3, 2026. Georgina and Harlequin have worked hard to structure this agreement to minimise exposure to significant capital outlay and therefore reduce dilution risk for shareholders."
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This is a practical logistics update, but it matters because Hussar appears to hinge on execution in a remote setting. If Georgina can confirm a suitable rig by 25 February and keep site works on track, it strengthens the case for a Q3 2026 spud. The non-dilutive funding structure is also a clear positive, although investors will still want to see tangible progress as milestones are met.