Georgina Energy raises £1.5 million to advance work programmes
Georgina Energy (GEX) has raised about £1.5 million through a placing of 16,666,666 new ordinary shares at 9 pence per share. The placing was conducted by Clear Capital, with the funds earmarked primarily to progress the company's work programmes and strengthen working capital.
As part of the fundraising, investors will receive one warrant for every placing share subscribed, exercisable at 10 pence and valid for five years from admission.
In addition, Georgina Energy will issue Clear Capital with 1,000,000 broker warrants, exercisable at 9 pence and expiring five years from the date of admission.
The company said the net proceeds will be used mainly to advance its existing projects while providing additional financial flexibility for general corporate purposes.
Earlier this week, Georgina moved a step closer to drilling its flagship Hussar prospect in Western Australia after the water well contractor mobilised to site ahead of the planned Q3 2026 drilling programme.
The water wells will support the Ensign 970 drilling rig, which remains on schedule to mobilise once the water supply is established.
Drilling at the Hussar well will target subsalt reservoir formations, including the Townsend Formation and fractured Neoproterozoic basement, in search of helium, hydrogen and natural gas.
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The placing provides Georgina Energy with fresh capital to continue progressing its exploration portfolio while maintaining balance sheet flexibility. With funding now in place, investors are likely to focus on operational milestones and updates from the company's work programmes over the coming months.
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