That’s the heading we hoped we’d get to write when we started this project.
Telling you we have found natural hydrogen still exists at our South Australia tenement is hugely exciting.
Though it is still early days, it’s a significant first step.
The key here is we have proved what drillers looking for oil in the 1930s accidentally found – natural hydrogen is in the ground near Minlaton.
We also know it was found in similar geological conditions to the find nearly a century ago – in the Parara limestone formation.
The other significant point to make from drilling so far is that we’ve found a lot of faults and fractures in the sub-surface. They make the work difficult and slower than expected, but are a good thing, because it could mean our theories are right on how the hydrogen seeps to the surface, through those faults.
In what is the first specific natural hydrogen exploration well to be drilled in Australia, all these details are important.
The results are preliminary in nature and we are continuing with our drilling and testing to provide further data.
See our announcement to the ASX here.
Meanwhile, for further proof of the burgeoning hydrogen focus, consider this from the US.
President Joe Biden has announced seven regional clean hydrogen hubs that will receive US$7 billion in funding.
The seven hubs are the subject of US$40 billion in private investment and create tens of thousands of good-paying jobs.
See the White House announcement here.