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The Ramsay drill rig during the first well appraisals.

Gold Hydrogen's Ramsay drill rig during the first well appraisals.

I hope you caught up with our ASX announcement this morning – we’ll be back in the ground in South Australia next month as our pursuit of natural hydrogen and helium gathers pace.

On the back of our successful strategic $14.5 million investment from Japanese majors Toyota, Eneos Xplora and Mitsubishi Gas Chemical, our 2025/26 drilling and well testing campaign on the Yorke Peninsula is targeting 2-3 new wells and ‘Ramsay 3’ is about to kick off and is scheduled for spudding on or around November 6.

It’s the most exciting time for us and the announcement highlighted not only the work that’s gone into the drill campaign, but how far our plans have moved as we also continue our progress for potential commercialisation opportunities.

You’ll remember that the Ramsay 1 and 2 results were world-leading. Natural Hydrogen was found at air-corrected purity levels up to 95.8% and the helium levels were up to 36.9%.

The new sites have been chosen through a combination of analysing the data from that drilling, historical records and a 2D seismic campaign conducted last year.

Clearly we believe the new locations are even more optimal for the two gases.

Drilling will progress through November and well testing will start in mid Q1 next year. We first hope to confirm the presence and scale of hydrogen and helium at the new sites.

The longer objective is to bring natural hydrogen and helium to surface to support conceptual designs for one or more pilot projects for the production of both.

One of the early opportunities is green methanol production, and we also announced a feasibility assessment, to be headed by Simon Talbot, who has joined the company as Chief Commercial Officer.

Simon recently finalised the successful sale of the $1.9B Green Methanol / Green Hydrogen project at Bell Bay Tasmania and has worked for over 25 years across renewables as an Agribusiness Executive for some of Asia-Pacific’s leading companies.

For those familiar with our tenement, the new wells are within a couple of kilometres of the original two wells. It’s also important to note we are drilling with a 7" casing, much bigger than the original drill rig. We will be able to better dewater the bores and should produce more conclusive results.

Elsewhere, we are progressing work on our other application permit areas, both for approvals and assessing premier targets.

The only disappointment of the year has been not being able to announce this progress earlier.

But real progress has been made and we’re at the sharp end of the natural hydrogen and helium hunt.

New drill program locked in