Prominence Energy confirms hydrogen and helium potential

Highlights

• Independent RISC Advisory assessment defines maiden Prospective Resources of 202.8 billion ft³ hydrogen and 9.2 billion ft³ helium on a 2U (P50) unrisked basis across the Eyre Project.
• Significant upside remains across the resource range, with aggregate 3U unrisked Prospective Resources of 491.6 billion ft³ hydrogen and 32.3 billion ft³ helium.
• Portfolio of 15 independently assessed leads across multiple geological plays, including several leads containing stacked exploration objectives which could potentially test more than one target within a single drilling location.
• Several individually material-scale targets identified, providing Prominence with the ability to rank and select drilling locations on resource size, geological evidence, risk and operational considerations.
• Eyre now advances into drill-target selection and farm-out preparation ahead of a targeted multi-well drilling program in mid-2027, with the Northern Hinge Prospective Resources Review the next planned catalyst.

Prominence Energy Chief Operating Officer, Dr Krista Davies, commented: “The independent assessment by RISC is an important step-change for Eyre. We have moved from identifying a broad hydrogen and helium opportunity to having a quantified portfolio of 15 exploration leads containing a best-estimate unrisked prospective resources of 202.8 billion ft³ of hydrogen and 9.2 billion ft³ of helium.

Importantly, this is not a single-target opportunity. The prospective resource is distributed across multiple leads and geological plays, with several locations offering stacked objectives. This gives us flexibility to select a drilling programme designed to test the most compelling combinations of scale, geological evidence and drilling efficiency. We now have the independent resource framework needed to move into target ranking, detailed drilling engineering and the planning for a potential farm-out process. With Northern Hinge expected to follow in the next month, we are rapidly building the technical and commercial foundations for a multi-well drilling campaign targeted for mid-2027.”

Eyre Project Prospective Resources Assessment

RISC has completed an independent probabilistic assessment of 15 identified leads across the Eyre Project. The assessment provides Prominence with its first independently quantified estimate of potentially recoverable hydrogen and helium across the identified Eyre exploration portfolio. The estimates have been derived using the principles of the Petroleum Resources Management System (PRMS).

RISC has applied an 8 - 12% geological probability of success (gPOS) to the individual leads, based on an assessment of the key source, reservoir, trap and seal elements. These probabilities reflect the current frontier nature of natural hydrogen exploration.

Clear Pathway to Mid-2027 Drilling Completion of the Eyre Prospective Resources Review is a planned milestone within a staged sequence designed to increase technical definition and potential strategic value before significant drilling capital is committed.

Large resource opportunity with relatively modest exploration capital requirement

The relatively shallow nature of the Eyre targets has the potential to provide Prominence with significant exposure to the independently assessed resource base without the exploration expenditure typically associated with deep conventional oil and gas drilling. Preliminary Company costings indicate approximately AU$5 million could potentially fund three exploration wells, or two wells plus additional seismic. Updated drilling engineering and costings scheduled for October are expected to refine the proposed program. Prominence also intends to prepare for a potential farm-out process in October and assess strategic partnership or other funding structures ahead of drilling. A successful partnering process could provide third-party validation of the project opportunity, reduce Prominence’s direct capital exposure and allow the company to retain meaningful participation in exploration success.

Read the article online at: https://www.globalhydrogenreview.com/hydrogen/15092026/prominence-energy-confirms-hydrogen-and-helium-potential/