Thor Energy (AIM, ASX: THR, OTCQB: THORF), well-funded specialists in Hydrogen and Helium exploration is pleased to provide a comprehensive update on current and planned exploration activities at its flagship HY-Range Project (RSEL 802) in South Australia, alongside a corporate update highlighting a highly successful year of portfolio rationalisation and value generation.
HIGHLIGHTS
HY-Range – Exploration and Planning
• Line layout completed for a major 2D seismic survey covering several hundred line-kilometres to identify drilling targets.
• Request for Quote (“RFQ”) to be released shortly, survey expected mid-2026, with exploration drilling targeted for 2026 or thereafter.
• A Phase-2 Geochemistry survey is currently underway to bolster models for hydrogen and helium migration, enriching the body of integrated data and evidence alongside reprocessed legacy seismic data, remote sensing, and offset well data.
Portfolio Rationalisation – Significant Cash Inflows expected in early 2026
• Strategic portfolio consolidation delivering significant, non-dilutive funding to execute the RSEL 802 work.
• Australia – Molyhil Divestment: Sale of Thor’s interest to Tivan Limited proceeding through final conditions precedents, including submission of approvals to the transaction to the Territory Government. Thor has already received A$375,000 with a further A$2.25 million anticipated in the new year upon successful completion, followed by three annual payments of A$1.3125 million in the Septembers of 2026, 2027, and 2028.
• US Uranium: Deal completed for divestment of 75% equity in the URAVAN portfolio to Metals One PLC completed in cash and non-restricted shares, plus a separate binding revenue-sharing agreement signed with DISA Technologies. Thor retains a carried 25% interest in these Projects and looks forward to DISA tabling the 2026 evaluation and extraction plans
We are delighted to report excellent progress in prosecuting our work plan for the HY-Range project (RSEL 802). The decision to prioritise a 2D seismic survey represents a significant step change in our exploration maturity, allowing us to transition from surface anomalies to defined subsurface drilling targets. With the RFQ process commencing shortly, we anticipate acquiring the survey by mid-2026 and are on a clear pathway toward drilling, potentially as early as 2026, should all permitting requirements be met in a timely fashion.
The divestments of our non-core US Uranium and Molyhil assets have simplified and focused Thor's portfolio, significantly reduced our cost base, and facilitated the working capital necessary to proactively prosecute our RSEL 802 without immediate recourse to shareholders.
LATEST
NEWS
HY-Range Seismic, Geochemistry & Portfolio Adjustment Update
A comprehensive update on current and planned exploration activities at its flagship HY-Range Project (RSEL 802) in South Australia,
HNAT Presentation (November 2025)
Thor Energy Plc is pleased to provide investors with a chance to view the presentation slides from the Investor Presentation for the HNAT Conference in Paris.
Outstanding Geochemical Results Demonstrate Prolific Hydrogen and Helium systems at HY-Range Project, South Australia
Thor Energy’s subsidiary, Go Exploration Pty Ltd, has been offered and has accepted three new Gas
Storage Exploration Licences by the South Australian Government.
Gas Storage Exploration Licences, South Australia
Thor Energy’s subsidiary, Go Exploration Pty Ltd, has been offered and has accepted three new Gas
Storage Exploration Licences by the South Australian Government.
Upsized HY-Range Natural Hydrogen/Helium Geochemical Survey Successfully Completed
Thor Energy plc (AIM/ASX: THR) is pleased to announce the successful completion of its comprehensive soil air geochemical survey across its HY-Range project (RSEL 802) in South Australia.
Investor Presentation (March 2025)
Catch up on the latest from the HY-Range Project with this Investor Presentation.