Georgina Energy (GEX) H2 2025 earnings summary

Executive summary

• Completed reverse takeover of Georgina Production Ltd in July 2024, raising £5.0m and readmitted to LSE under new name and code GEX.

• Focused on exploration and development of helium, hydrogen, and hydrocarbon assets in Australia, with significant progress at Hussar and Mt Winter projects.

• Pre-revenue stage, with prudent capital management and a year-end cash balance of £1.2m.

• Strong ESG and governance frameworks implemented, with ongoing engagement with local communities and stakeholders.

Financial highlights

• Loss for the period ended 31 January 2025 was £5.44m, including a £2.4m non-cash share-based payment charge from the reverse takeover.

• Administrative expenses totaled £953k; project expenses £770k.

• Cash and cash equivalents at period end: £1.22m.

• No revenue generated; company remains pre-revenue.

• No dividend declared or paid.

Outlook and guidance

• Key near-term goals: obtain drilling approval and execute maiden drilling at Hussar, complete acquisition and secure drilling approval for Mt Winter.

• Additional funding required to meet planned exploration and corporate expenditure; material uncertainty exists regarding going concern.

• Ongoing discussions with potential off-take partners and openness to strategic partnerships.