Georgina Energy PLC (LSE:GEX) chief financial officer Mark Wallace talked with Proactive's Stephen Gunnion about the company’s recent financial results delay and its strategic plans for natural gas development. Wallace explained that the delay was due to the complex reverse takeover of Mining, Minerals & Metals PLC and the subsequent re-listing process, which involved multiple moving parts for the auditors to review.
"My thanks go out to my team. They’ve only been with Georgina for six months, and within that time, we had to put the accounts into a new accounting system," Wallace said. He confirmed that although the accounts were released four weeks later than expected, they were accurate and complete.
Wallace noted that the audit process will be smoother going forward as Georgina Energy has streamlined its systems. He stressed that the delay did not impact operational activities, with engagement continuing uninterrupted with both the Department of Energy and Minerals and indigenous partners on the Hussar and Mt Winter sites.
Looking ahead, Wallace highlighted the company’s confidence in the long-term demand for natural gas as an enabler of energy transition. He said formal drilling approval for Hussar is expected soon and the Aboriginal land rights agreement for Mt Winter is close to completion. Georgina Energy is also in discussions with offtake partners, having signed one memorandum of understanding already.
Visit Proactive’s YouTube channel for more interviews and updates. Don’t forget to like this video, subscribe to the channel, and enable notifications for future content.
#GeorginaEnergy #NaturalGasAustralia #EnergyTransition #GasExploration #MarkWallace #HussarProject #MtWinterProject #ASXUpdates #InvestorNews #ResourceDevelopment
