• Historical well chip samples from the legacy wells on the PEL 687 permit (Ramsay Project) were obtained from archive storage and tested in laboratory conditions by an independent scientific organisation.
  • The geological parameters appear to have all the necessary ingredients for the generation and accumulation of hydrogen gas.
  • Porosity and permeability were found across offset wells, supporting the belief that the Ramsay area has capacity to flow hydrogen gas.
  • Offset well chip samples and lab rock analysis also indicate that there is microfracture and a fracture network in both Cambrian limestone and fractured basement, supporting the Company’s theory for hydrogen gas migration potential.
  • The fluid inclusion study showed that the mineralogy in the Ramsay area has a high iron bearing formation which potentially helps hydrolysis (ie. the generation of natural hydrogen gas).
  • Independent mapping of the iron bearing formation is aligned with the magnetic results from the Company’s airborne survey (refer ASX release of 9 August 2023).

Read the full ASX announcement here.