• Exploration well testing operations, which are pioneering for both Natural Hydrogen and Helium in a non-petroleum system, are set to commence today at the site of the Company’s successful Ramsay 1 and Ramsay 2 exploration wells.
  • This is very much a new energy and resource play that Gold Hydrogen has confirmed with historical data, and with its recent exploration and drilling results.
  • The Company’s Ramsay 1 and Ramsay 2 wells drilled late last year found Natural Hydrogen at up to 86% purity, and Helium at up to 6.8% of raw gas, as previously reported.
  • The independent best estimate Prospective Resource for Natural Hydrogen on the Company’s 100% owned PEL 687 is 1.3 billion kilograms, and for Helium the mean estimated Prospective Resource is 96 billion cubic feet (Bcf) over approximately 25% of the tenement. Refer Tables 1 and 2 for full details.
  • The Company has significant prospective resources with large-scale potential.
  • This is the start of a very exciting technical journey, and is not dissimilar to the eventual success of existing world-renowned oil and gas energy projects, which took time to reach their full potential.
  • The objectives of the exploration well tests are to obtain more samples of both Natural Hydrogen and Helium for further specialist analysis in world-leading laboratories, and to extract both Natural Hydrogen and Helium to surface.
  • Testing operations are expected to take most of March, with preliminary technical results from the overall testing of both the Ramsay 1 and Ramsay 2 exploration wells program expected by April, with further detailed laboratory analysis ongoing.
  • Results from the testing program will provide the Company with valuable information for future drilling and well completion designs, for the future pilot program, and longer-term commercialisation planning.
  • Planning continues on the Company’s broader 2024 work program, including a regional 2D seismic program and the drilling of additional wells.

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