Thor Energy Unveils Major Hydrogen & Helium Prospective Resource at HY-Range Project

Thor Energy (ASX: THR, AIM: THR, OTCQB: THORF) has announced a significant maiden prospective resource estimate for natural hydrogen and helium at its HY-Range Project (RSEL 802) in South Australia. Conducted by RISC Advisory, the assessment indicates unrisked prospective recoverable resources of up to 3,511 Bcf of hydrogen and 427 Bcf of helium, vastly exceeding company expectations.

Thor holds an effective 80.2% interest in the 6,336 km² licence via Go Exploration Pty Ltd. The project lies within the Neoproterozoic Adelaide Geosyncline; an area geologically comparable to global hydrogen-helium systems. Historical occurrences in the region, combined with identified structural traps, support the project's strong potential.

Management plans to accelerate exploration activities to further assess commercial viability. While these are unrisked and contingent resources, Thor believes the location, access to infrastructure, and early geological indicators make RSEL 802 a standout hydrogen-helium opportunity.

Find the full press release below:

ASX Announcement – 31 March 2025

HY-Range Project (RSEL 802) Delivers Impressive Maiden Natural Hydrogen and Helium Prospective Resource

Thor Energy plc ("Thor" or “the Company”) (AIM, ASX: THR, OTCQB: THORF) is pleased to announce an independent assessment of prospective resources for naturally occurring hydrogen and helium at the HY-Range Project, located on licence RSEL 802 in South Australia.

• Prospective resource results vastly exceed Company expectations.
• The HY-Range licence is in a prime location within South Australia's hydrogen and helium fairway and is a rare, fully granted exploration license.
• Thor Energy holds an effective 80.2% net interest through its acquisition of Go Exploration Pty Ltd.
• Management plans to accelerate exploration activities on the back of these results.

Unrisked Recoverable Prospective Resources – RSEL 802

Resource Type1U (Bcf)2U (Bcf)3U (Bcf)Hydrogen (Thor Net) | 221 | 842 | 2,816
Helium (Thor Net) | 20 | 90 | 343

Note: Resources are unrisked and based on entrapment model assumptions. Further exploration is needed to determine commercial viability.

The resource estimates were prepared by RISC Advisory Pty Ltd.

Comment from Thor Energy

“We are excited by the hugely significant prospective resource estimates for natural hydrogen and helium at our HY-Range Project,” said Andrew Hume, Managing Director. “While these are unrisked estimates and further work is needed, this is a substantial milestone that supports our strategic focus and positions us for growth in this emerging sector.”

About RSEL 802

• The licence covers 6,336 km² in the Neoproterozoic Adelaide Geosyncline—a geologically favourable rift system.
• The region features known occurrences of hydrogen (e.g., Ramsay Oil Bore-1 and American Beach Oil-1).
• Structural leads include large anticlinal folds in the north and gravity/magnetic features in the south.

Additional Notes

• Estimates conform to PRMS principles, adapted for hydrogen/helium exploration.
• Thor’s net figures are post-royalty (2%) and adjusted for its 80.2% stake in Go Exploration.
• Geological chance of success is estimated at 6–9%, with high development potential due to existing infrastructure.

Thor Energy Plc Contact

• Andrew Hume – Managing Director
• Alastair Clayton – Executive Chairman
• Rowan Harland – Company Secretary
   📞 +61 (8) 6555 2950
   🌐 thorenergyplc.com