Thor Energy Plc is pleased to announce the successful award of two new Regulated Substance Exploration Licence Applications (RSELA 810 and RSELA 811) to Thor and its 50:50 joint venture partner, H2EX Ltd. Located in the onshore Otway Basin in Southeastern South Australia these applications represent a significant expansion of the Company’s natural hydrogen and helium exploration footprint along with hydrocarbon potential, with a combined area of 4,123km2, slightly larger than one million acres.
HIGHLIGHTS:
• Strategic Joint Venture: Award of RSELA 810 and 811 in a 50:50 partnership with natural hydrogen explorer H2EX Ltd.
• Proven Hydrogen Potential: RSELA 810 hosts the historic 1915 Robe-1 well, which recorded an exceptional 25.4% natural hydrogen concentration (Alexander, 2023).
• Highly Prospective Region: Located in the onshore Otway Basin, an area historically famous for oil and gas exploration and production, now demonstrating significant potential for natural hydrogen and helium.
• Synergistic Portfolio Expansion: Adds substantial value and risk diversity to Thor’s portfolio, building on the successful exploration blueprint established at the Company’s flagship HY-Range (RSEL 802) project. Located close to infrastructure with close access to South Australia and Victoria’s east coast energy and industrial markets.
We are thrilled to secure RSELA 810 and 811 alongside our joint venture partners H2EX. The award of these licence applications is a fantastic milestone, representing a mature, oilfield-style approach to exploration where we can combine our technical strengths to unlock the immense potential of the Otway Basin.
The historical 25.4% hydrogen reading from the Robe-1 well speaks volumes about the pedigree of this acreage which holds substantial natural hydrogen and helium potential across several undrilled plays. We look forward to applying the extensive learnings we have gathered from our HY-Range project to this new, highly prospective acreage as we await the finalisation of licence awards.
Following today’s announcement, “New opportunities in the pipeline” by the South Australian Minister of the Department of Energy and Mining (“DEM”), these applications will now progress through the standard permitting processes before being formally awarded as granted Regulated Substance Exploration Licences (“RSEL”).
Further announcements will be made as and when the permitting processes progress.
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