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Georgina Energy Agrees Aboriginal Land Rights Deal for Mt Winter Prospect in Australia

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Georgina Energy (GEX.L) said Wednesday it entered an Aboriginal land rights agreement with the Central Land Council covering exploration permit EP155, which hosts the Mt Winter helium-hydrogen-natural gas prospect in Australia.

Under the agreement, the helium and hydrogen explorer plans to expedite the prospect re-entry and development program at Mt Winter, as well as its Hussar project. It will also need to complete the settlement with Mosman Oil & Gas, including an AU$300,000 payment, upon the formal granting of the permit.

The agreement will be presented to traditional owners for approval before being submitted to the Minister of the Northern Territory Department of Mines and Energy.

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