Georgina Energy PLC Completes Reverse Takeover to Focus on Helium Exploration
Key Ideas
- Georgina Energy PLC has completed a reverse takeover with Mining, Minerals & Metals PLC to focus on helium exploration in Western Australia.
- The company has raised £5 million in new funding to develop its first well in the Hussar licence area, which is also prospective for hydrogen and natural gas.
- Drilling is scheduled to begin in December, with expectations of becoming a key player in the energy market.
- The shares of Georgina Energy PLC will be listed at 12.5p each on the London Stock Exchange.
Georgina Energy PLC has finalized a reverse takeover transaction with Mining, Minerals & Metals PLC, positioning itself as one of the increasing number of helium companies listed on the London Stock Exchange. The company successfully raised £5 million in new funding, earmarked for the development of its inaugural well in the Hussar licence area located in Western Australia. This region also displays promise for the exploration of hydrogen and natural gas. Plans are in place to commence drilling activities in December, marking the initiation of what is anticipated to be a significant venture in the energy sector. Chief Executive Anthony Hamilton expressed optimism about Georgina Energy's potential to establish itself as a prominent player within the energy market. The company's shares will debut at 12.5p each, reflecting a positive outlook for its future prospects and growth. Georgina Energy's strategic focus on helium exploration underscores its commitment to leveraging opportunities in the energy industry, with plans to further expand its presence and operations.