Shareholder and Investor Update Presentation
Released
Released
Announcement PDF
Committed to Developing Naturally
Occurring Hydrogen and Helium in
Australia
Shareholder & Investor Update
Operations and Commercial
May 2026
2
Gold Hydrogen Limited
Important Notice & Disclaimer
This presentation is not a prospectus, disclosure document or offering document under Australian law or under any other law.
It is for informational purposes only. This document does not constitute, and should not be construed as, an offer to issue or
sell or a solicitation of an offer or invitation to subscribe for, buy or sell securities in Gold Hydrogen Limited ABN 74 647 468 899
(Gold Hydrogen).
Any material used in this presentation is only an overview and summary of certain data selected by the management of Gold
Hydrogen. The presentation does not purport to contain all the information that a prospective investor may require in
evaluating a possible investment in Gold Hydrogen nor does it contain all the information which would be required in a
disclosure document prepared in accordance with the requirements of the Corporations Act and should not be used in isolation
as a basis to invest in Gold Hydrogen. The information contained in this presentation is not investment or financial product
advice and has been prepared as general information only, without consideration for your particular investment objectives,
financial situation or particular needs. Recipients of this presentation must make their own independent investigations,
consideration, and evaluation of Gold Hydrogen. Gold Hydrogen recommends that potential investors consult their
professional advisor/s as an investment in Gold Hydrogen is considered to be speculative in nature.
Statements in this presentation are made only as of the date of this presentation unless otherwise stated and the information
in this presentation remains subject to change without notice. Reliance should not be placed on information or opinions
contained in this presentation.
To the maximum extent permitted by law, Gold Hydrogen disclaims any responsibility to inform any recipient of this
presentation on any matter that subsequently comes to its notice which may affect any of the information contained in this
document and presentation and undertakes no obligation to provide any additional or updated information whether as a result
of new information, future events or results or otherwise.
To the maximum extent permitted by law, no representation or warranty, express or implied, is made as to the fairness,
accuracy, completeness or correctness of the information, opinions or conclusions contained in or derived from this
presentation or any omission from this presentation or of any other written or oral information or opinions provided now or in
the future to any person.
To the maximum extent permitted by law, neither Gold Hydrogen nor, any affiliates, related bodies corporate and their
respective officers, directors, employees, advisors and agents (Relevant Parties), nor any other person, accepts any liability as to
or in relation to the accuracy or completeness of the information, statements, opinions or matters (express or implied) arising
out of, contained in or derived from this presentation or any omission from this presentation or of any other written or oral
information or opinions provided now or in the future to any person.
This presentation includes information regarding the past performance of Gold Hydrogen. Recipients of this presentation
should be aware that past performance should not be relied upon as being indicative of future performance.
This presentation contains statistics, data and other information pertaining to Gold Hydrogen’s business and operations.
Recipients of this presentation should note that industry and market data and statistics are
inherently predictive and subject to uncertainty and not necessarily reflective of actual industry or market conditions. There is
no assurance that any of the estimates or projections in this presentation will be achieved. Gold Hydrogen has not
independently verified, and cannot give any assurances to the accuracy or completeness of, this market and industry data or
the underlying assumptions used in generating this market and industry data.
This presentation contains “forward looking statements” concerning the financial condition, results of operations and business
of Gold Hydrogen. All statements other than statements of fact or aspirational statements, are or may be deemed to be
“forward looking statements”. Often, but not always, forward looking statements can generally be identified by the use of
forward looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, “outlook”, and
“guidance”, or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of
management, future or anticipated production or construction commencement dates and expected costs, resources or
reserves, exploration results or production outputs. Forward looking statements are statements of future expectations that are
based on management’s current expectations and assumptions and known and unknown risks and uncertainties that could
cause the actual results, performance, or events to differ materially from those expressed or implied in these statements. These
risks include, but are not limited to price fluctuations, actual demand, currency fluctuations, drilling and production results,
commercialization, reserve estimates, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal,
and regulatory developments, economic and financial market conditions in various countries and regions, political risks, project
delay or advancement, approvals, and cost estimates. More detail on the risks relevant to Gold Hydrogen’s business and
operations is set out in Risks section of this presentation.
Prospective Resource Statements
The Prospective Resource Statements for Natural Hydrogen and for Helium have been included in presentation under the
approval of Mr Billy Hadi Subrata, Chief Engineer for Gold Hydrogen, who is a Qualified Petroleum Reserves and Resources
Evaluator. Mr Hadi Subrata confirms that, as at the date of this announcement, there is no change to information or additional
information, since the effective dates, that would materially change the estimates of prospective resources quoted.
QPRRE Statement – Natural Hydrogen
The Prospective Resource Statement for Natural Hydrogen in this presentation is based on, and fairly represents, information
and supporting documentation prepared by independent consultants “Teof Rodrigues & Associates” with an effective date of
30 September 2021, and which forms part of the Company’s Replacement Prospectus dated 29 November 2022. The
Prospective Resource Statement, together with all relevant notes, also appears in the Company’s ASX releases of 13 January
2023 and 30 October 2024.
QPRRE Statement - Helium
The Prospective Resource Statement for Helium in this announcement is based on, and fairly represents, information and
supporting documentation prepared by independent consultants “Teof Rodrigues & Associates” with an effective date of 21
February 2024, and which was announced by the Company on that date (as well as 30 October 2024) together with the
accompanying assumptions and notes.
goldhydrogen.com.au | ASX:GHY |
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Gold Hydrogen Limited
goldhydrogen.com.au | ASX:GHY |
Executive Summary
Drilling Campaign Complete
Ramsay 3 & 4 successfully drilled (Q4 2025). Natural Hydrogen and Helium detected, confirming strong correlation across all four Ramsay wells
Exceptional Gas Purities
Up to 97% purity Natural Hydrogen (Parara Fm) and up to 36.9% Helium purity detected. Helium-3 detected. Stacked zones allow co-production without
compromising purity
Commercialisation Advancing / Technology Validated
Worley-validated membrane separation and PSA technology confirmed for Helium extraction. Proven dissolved gas process (used commercially in Japan 70+
years) could be directly applicable at Ramsay
Fully Funded for Next Phase Well Testing
Company funded for the upcoming testing program of up to three (3) wells
Strategic Investor Support
Toyota, Mitsubishi Gas Chemical and ENEOS Xplora hold 11.6% combined
Critical Helium Market Timing
Ras Laffan outage removed ~33% of global supply. Spot prices doubled. Australia 100% import-dependent, positioning GHY as a potential sovereign solution
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Gold Hydrogen Limited
goldhydrogen.com.au | ASX:GHY |
Executive Summary – Natural Hydrogen and Helium
Ramsay Project 100% owned
7,820 km2
plus a further 69,472 km2 under
exclusive application
Title over certified Prospective
Resources
1.3 billion kg of Natural Hydrogen1
41 Bcf of Helium1
(with a mean of 96 Bcf)
High purity gas sample levels2
Up to 97% Natural Hydrogen
Up to 36.9% Helium
Helium-3 Detected in Samples
Engagements to date with leading
global experts and contractors
CSIRO, Schlumberger, Total Seismic,
Xcalibur, Savanna Energy Services
Commercial and environmental
competitive advantages
Natural Hydrogen provides cost3 and
emission advantages over other
production sources
A number of global gas projects are
commercial with much lower
concentrations of Helium
(<1% Helium as a by-product)
1. Refer Prospective Resources Tables attached for full details.
2. Refer ASX Announcements of 27 May 2024, 2 August 2024, 17 & 30 October 2024 and 4 December 2025. Gas samples are air and nitrogen corrected.
3. Based on evidence from the Bourakebougou Field in Mali, which has been operating since 2012 – see also Slide 23.
5
Gold Hydrogen Limited
goldhydrogen.com.au | ASX:GHY |
Gold Hydrogen – Corporate Snapshot
Toyota Motor Corporation 7.1m shares 4.0%
Mitsubishi Gas Chemical 7.1m shares 4.0%
ENEOS Xplora 6.4m shares 3.6%
20.6m shares 11.6%
Non-Executive Chair
Alexander Downer
Non-Executive Director
Katherine Barnet
Managing Director
Neil McDonald
Executive Director
Roger Cressey
Shares on Issue - 180.5 million
Managing Director 38.5m shares 21.3%
Strategic Investors 20.6m shares 11.6%
Top 20 Shareholders 120.2m shares 66.66%
Strategic Investors
Tenure
1 granted Petroleum Licence – PEL 687 Ramsay Project
8 Petroleum Licence Application Areas
1 granted Mineral Exploration Licence
4 Gas Storage Application Areas (within PEL 687)
Key Stats
Market Cap - $90 million
Cash on Hand - $11 million (as at 30 April 2026)
Board of Directors
6
Gold Hydrogen Limited
575 line km survey
7
Gold Hydrogen Limited
1 World leading
Helium purities at
Ramsay including
lateral extension
of Helium-bearing
formations (with
the potential for
free gas)
2 Distinct stacked
Helium and
Natural Hydrogen
zones (no need to
commingle gases
for future
developments)
3 MGC and ENEOS Xplora (GHY Strategic Investors)
capability and experience in extracting gas
dissolved in water
4 Proven membrane
technology for Helium
separation, extraction
and potential for a
commercial project (per
Worley assessment in
ASX announcement of
20 May 2026)
5 Ability to co-
produce both
Natural Hydrogen
and Helium from a
single well without
compromising
purity and
processing
6 Helium market
dynamics and
demand
7 Australia’s 100%
import dependency
and Helium being
placed back on
critical minerals list
(with significant
Federal Govt
support)
What Do We Know Now That We Didn’t Know in 2023?
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Gold Hydrogen Limited
Corporate Objectives and Strategy
Appraise
• Drill and test wells to
assess resource potential
• Demonstrate Natural
Hydrogen and Helium gas
flows
• Contingent Resource
pathway
Commercialise
• Screening and feasibility
studies
• Green methanol
• Natural Hydrogen to
power
• Industrial offtake
• Helium commercialisation
Assess
• Mature exploration
targets across existing
portfolio
• Secure additional tenure
Execution
• Maximise value to
shareholders
• Capital discipline
• HSE and operational
excellence
Committed to Developing Naturally
Occurring Hydrogen and Helium in
Australia
2025 / 26 Ramsay Drilling and Flow Testing Campaign
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Gold Hydrogen Limited
2025 / 26 Ramsay Project Drilling and Testing Objectives
Assess the commercial potential of identified Hydrogen and
Helium bearing reservoirs at the Ramsay Project
2+1 drilling campaign – Ramsay 3, 4 & 5
▸ Assess reservoir deliverability – DST and testing with ESP
▸ Maiden Contingent Resource – basis for pilot project feasibility
▸ 3rd well contingent on results of first two wells (and budgets)
2-month drilling campaign – Condor Energy Services
Rig #1 contracted
Ramsay 3 and Ramsay 4 successfully drilled in Nov-Dec
2025
Well test program to commence in June 2026
97%
H₂ purity – Parara Fm
Ramsay 3 & Ramsay 4 successfully drilled and prepared
for flow testing
High standard of safe operations during drilling with
zero LTIs and zero environmental incidents
High quality formation evaluation datasets acquired
including sampling and wireline logging
Natural Hydrogen and Helium detected and
sampled, demonstrating strong correlation with
Ramsay 1 and Ramsay 2 wells
Parara, Kulpara, Winulta and Hiltaba Formations all show porous and
permeable intervals targeted for upcoming flow testing
Up to 97% purity Natural Hydrogen measured in Ramsay 3 (air & nitrogen corrected). Refer ASX announcement of 2 December 2025
11
Gold Hydrogen Limited
A
B
SEG-reverse zero phase PSTM high frequencies cut section A-B (TWT in sec) from Ramsay 4 to Ramsay 3
• Excellent lateral correlation of target Natural Hydrogen and Helium formations between all Ramsay wells
• Wireline log interpretation supports favourable porosity, natural fracturing and fluid mobility characteristics
• Flow test program will be initiated across the Ramsay Project in June 2026
• Up to three wells to be flow tested during upcoming program
2025 Drilling Results & Upcoming Flow Testing
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Gold Hydrogen Limited
CAMPAIGN OBJECTIVES TECHNICAL OBJECTIVES
NATURAL HYDROGEN TO SURFACE
Demonstrate Natural Hydrogen flows to surface — in free-
form from annulus, or entrained in water through tubing,
depending on well test setup.
HELIUM TO SURFACE
Demonstrate commercially viable Helium flows to surface
(with water recycling) — from dissolved Helium-bearing
zones in commercial quantities.
MAXIMISE FLOW RATES
Maximise gross flow rates from Natural Hydrogen and Helium
bearing zones.
GAS COMPOSITION DATA
Measure stabilised GWR and gas composition under continuous flow
to surface.
CONTINGENT RESOURCE
Gather sufficient data for Contingent Resource sign-off.
3-DAY STABILISED FLOW
Stable flow for ≥3 days from Parara & Kulpara Formations (small +
large ESP pumps).
2026 Well Testing Program Objectives
Refer ASX Announcement of 20 May 2026 for further details
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Gold Hydrogen Limited
Ramsay 1
~20 days | Jun – Jul
Ramsay 2
~30days | Jul – Aug
Ramsay 3
~60 days | Aug – Oct
Mob + FFP gate (12–18
Jun) Move Move Demob (Oct)
KEY OPERATIONAL FACTS
100
operational days
first ESP run to last suspend
~40
days flow testing
High volume on all wells
~50
days workover /
completion
perf, stim, ESP, plugs
6
individual flow tests
across 3 wells
8
ALS run/pull cycles
embedded in workover sequence
Well Testing at a Glance – Testing up to Three Wells
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Gold Hydrogen Limited
Ramsay 1-3: Flow Testing Summary
Gather commingled flow rate without completion
constraints
Increase previous flow rate from 180 to
2,000bbl/day using ESP lifting system
De-risk Ramsay 3 test operations by gathering
reservoir data
Extensive sampling program to confirm stabilised
purity and flow
Gather zonal flow rate and reservoirs parameters for
Contingent Resources booking
Increase previous flow rate from 180 to 2,000bbl/day
using ESP lifting system
Test basement interval as upside for resources
De-risk Ramsay 3 test operations by gathering
reservoir data
Extensive sampling program to confirm stabilised
purity and flow
Gather zonal flow rate and reservoirs parameters for
Contingent Resources booking
Maximize potential pay and flow rate using ESP lifting
system
Extensive sampling program to reconcile gas flows and
purities
Well Test Objectives
Zonal test at up to 2,000bbl/day using downhole ESP
assembly
Commingled test focused on producing the Helium
zone and drop water level to produce free Natural
Hydrogen in annulus
Zonal test at up to 2,000bbl/day using downhole ESP
assembly
Commingled test focused on producing the Helium
zone and drop water level to produce free Natural
Hydrogen in annulus
Zonal test at up to 20,000bbl/day using downhole
ESP assembly
184m of gross pay identified from petrophysics
targeted
Perforation and stimulation designed to increase flow
rate
Test Type
Durations (budget): 6 days total
5 days for the commingled zone (1 day build-up)
Durations (budget): 18 days total
5 days for the Natural Hydrogen zone (1 day build-up)
5 days for the Helium zone (1 day build-up)
5 days for the basement zone (1 day build-up)
Durations (budget): 17 days total
11 days for the Helium zone (1 day build-up)
6 days for the Natural Hydrogen zone (1 day build-up)
Durations
Well 1 Well 2 Well 3
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Gold Hydrogen Limited
Ramsay Flow Testing
0-3 months
Strategy
Assess commercial potential of identified
Natural Hydrogen and Helium bearing
reservoirs at the Ramsay Project
OUTCOME
Flow rate data as input for
commercialization FEED studies
Scope
Ramsay 1, Ramsay 2 & Ramsay 3
FLOW TEST UP TO THREE WELLS
Flow Testing
0-6 months
Strategy
Book Natural Hydrogen and Helium Contingent
Resources
Subsurface studies and reservoir engineering
Additional surveys, flow testing & FEED inputs
OUTCOME
Contingent Resource booking
Development well locations as input for FEED
Scope
Static and Dynamic modelling + G&G studies
Follow up surveys, flow testing and sampling
Front-End Engineering in preparation for FID
Ramsay Development
0-12 months
Step Out Exploration
Strategy
Expand resource base and portfolio upside
Mature, rank and drill exploration targets
Develop IP and exploration blueprint
OUTCOME
Further Natural Hydrogen and Helium
discoveries
Scope
Geological and Geophysical surveys
Drilling preparation and execution
0-24 months
DRILL UP TO THREE WELLS
Gold Hydrogen Operational Strategy & Lookahead
Committed to Developing Naturally
Occurring Hydrogen and Helium in
Australia
Commercial Development Update
17
Gold Hydrogen Limited
Derisking
/ Value
(A$)
* Key Drivers:
Fluid Production rate; Ramsay 3 and 4 well
designs allow for 20,000bbld ESP pump
completion. Based on inhouse reservoir
modelling, the upcoming flow test strategy will
be focussed on maximising fluid production over
the H2/He bearing formations.
H2/He Purity; based on results to date from
Ramsay 1 and 2 and the previous flow test
program on those wells, we have a range of gas
samples that demonstrate Helium purities up to
36.9% and Natural Hydrogen up to 97% purity.
Gas-water ratio (GWR); Data from Ramsay 1 and
2 and the previous flow test program
demonstrated a range of gas-water ratios.
OPEX/CAPEX sharing also considered possible
with any Natural Hydrogen development
Current* Free Gas
System
Increase in
net Helium
production
Well
Optimisation
Maximise
deliverability /
well count and
reduce well
CAPEX
Dual product
cost sharing
Commingled
production of
Natural
Hydrogen and
Helium to reduce
well count and
share OPEX
Hiltaba Bsmt
Reservoir
Volume and flow
rate upside from
Hiltaba
Basement to be
tested
GHY strategic investors
provide validation
Derisk Step-
out targets
Successful flow
testing de-risks
follow up step-
out targets for
future appraisal
Based on drilling results
from Ramsay 1, 2, 3 & 4;
flow test results from
Ramsay 1 & 2; Flow test
modelling for larger
boreholes Ramsay 3 & 4
[He]
[H2]
Milestones
Commercial Foundations in Place; Upcoming Flow Testing to Assess Upside
18
Gold Hydrogen Limited
1 2 3
Targeted 12–24 months
SHORT TERM · Natural Hydrogen
Targeted 24–36 months
INTERMEDIATE · Helium
Targeted 36–48 months
LONG TERM · Natural Hydrogen → Green Methanol
H₂ POWER GENERATION
(Option A)
Strategic partner H₂ fuel cell → energy to support flow
testing
TMC FUEL CELL FLOW TEST POWER
H₂ COMPRESSED GAS
(Option B)
Wellhead → purification & supply → trucking (trial)
WELLHEAD PURIFY TRUCK
COST
TBA
TARGET PARTNERS
Close strategic partner
HELIUM SUPPLY
Wellhead → filtration → purification → He supply to
Australian market
WELLHEAD
FILTRATION
PURIFICATION
HELIUM TO MARKET
COST
Pilot: TBA · Scaled: TBA
TARGET PARTNERS
Engineering, investor, and offtake partners
GREEN METHANOL
Low-carbon liquid fuels: well → purification → gasification
→ methanol synthesis → export
WELL
GASIFICATION
METHANOL SYNTH
EXPORT (LIQUEFACTION SCALE-UP)
COST
TBA
TARGET PARTNERS
Close strategic partners
Potential Commercial Pathways - Strategic Summary
19
Gold Hydrogen Limited
Technical
Matured from existing subsurface data
Reservoir + Flow Rates
Excellent reservoir deliverabiliy allows for high
productivity; Downhole Electric Submersible
Pumps (ESPs) will be used to maximise fluid
production
Purity
Flow Testing
0-6 months
Commercial
Conservative inputs with material upside
Separation + Water Disposal
‘Off the shelf’ gas in liquid separation process
confirmed by Worley review; Vendors quotes
received, produced water reinjection back into
aquifer maximizes efficiency
World-class Helium purities sampled allow for high
net helium production rates. Natural Hydrogen gets
a free ride from Helium investment.
Free Gas Helium and Hydrogen Upside
Data acquired indicates that free gas system
may be present – near term flow test program
can assess this upside
Helium Value Hydrogen Free Ride
Mature Market
Worley Validation
Independent (conservative) commercial
evaluation by Worley confirms a high margin
dissolved Helium project has potential at Ramsay
Established domestic and international market
looking for natural helium product
Natural Hydrogen Upside
Commingled Natural Hydrogen production
provides additional value stream; CAPEX/OPEX
sharing; power supply for Helium plant
Production summary 1
Helium exported at gate Mscfd 290
tpd 1.35
Number of production wells 10
Result
Assumed commercial metrics 1
Commodity Price per kg (approx.)
Helium US$60–120/kg (A$90–180/kg)
Green Hydrogen US$3.50–8.00/kg (A$5–12/kg)
Natural Gas US$0.10–0.25/kg (A$0.15–0.70/kg
Dissolved Helium and Natural Hydrogen Development Potential at Ramsay
1. Refer to 20 May 2026, ASX Announcement for further
detail.
Data and pricing sources: Worley Independent Commercial Review
(Feb-Mar 2026); Kornbluth Helium Consulting; AKAP Energy; USGS
Mineral Commodity Summaries 2025; IEA Global Hydrogen Review
2025.
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Gold Hydrogen Limited
Existing Gas Dissolved in Water Projects – Strategic Investors
Mitsubishi Gas Chemical examples
Higashi-Niigata Oil & Gas Field
Discovered in 1951 — 70+ years of continuous dissolved gas
operations in Niigata. Drilling, extraction and water reinjection at
commercial scale.
Subsidiary: TOHO EARTHTECH, INC.
Extracts natural gas dissolved in water AND iodine from brine.
Operates pumping stations, gas separation facilities, and
reinjection wells across Niigata. Expanded iodine production
capacity in 2024.
Key Relevance to Ramsay:
Identical process — pump groundwater, separate dissolved gas at
surface, reinject produced water. Proven at scale for decades.
GHY March 2026 Field Trip
MGC hosted GHY management on a field trip to Niigata, Japan to
visit their operations including the technology used commercially
extract natural gas streams at the Higashi-Niigata Oil and Gas
Field
ENEOS Xplora examples
Nakajo Oil & Gas Field, Niigata
Three reservoir types: non-associated gas, dissolved gas in water,
and black oil. >175bcf of natural gas produced to date
Dissolved Gas + Iodine Extraction
Crude iodine extracted from kansui (brine) using blow-out
method. Associated gas is also separated and extracted.
Commercial export of iodine as raw material for pharmaceuticals
and chemicals.
Strategic Investor in Helium/H₂:
ENEOS Xplora actively investing in natural hydrogen and helium
globally (incl. Gold Hydrogen & Helium Evolution), leveraging
subsurface technology and inhouse knowledge from existing
operations.
ENEOS Xplora have capability and confidence in dissolved gas
extraction technology
GHY strategic investment partners validated dissolved gas technology with decades of commercial-scale operations (as per public
documents)
21
Gold Hydrogen Limited
Proven Technologies: Dissolved Gas Extraction, Separation & Purification
1
Downhole
Pumping
Electric Submersible
Pumps (ESPs) lift gas-
saturated groundwater
to surface
Technology Vendors:
Baker Hughes
Schlumberger
Halliburton
2
Gas-Liquid
Separation
Dissolved gas releases
at surface pressure.
'Off-the-shelf' gravity
and flash separators
Technology Vendors:
Worley (validated)
Sulzer
Alfa Laval
3
Gas
Purification
Membrane separation
& PSA to concentrate
He/H₂ from mixed
gas stream
Technology Vendors:
Linde (HISELECT)
Air Liquide
Evonik (SEPURAN)
4
Helium
Liquefaction
Cryogenic cooling to
−269°C for Grade A
helium product
(99.999% purity)
Technology Vendors:
Linde
Air Liquide
Air Products
5
Water
Reinjection
Produced water
reinjected into aquifer.
Maximises efficiency &
minimises impact
Technology Vendors:
Halliburton
Baker Hughes
Weatherford
Why This Matters for Ramsay
Every technology in the Ramsay process chain is commercially proven and available 'off the shelf' — confirmed by Worley's independent review
MGC and ENEOS Xplora operate dissolved gas extraction and reinjection processes at commercial scale in Niigata, Japan. GHY leveraging knowledge and IP
Helium purification via membrane + PSA hybrid systems (Linde, Air Liquide) delivers 99.999% purity at industrial volumes
Commercially proven, off-the-shelf technology | Assessed by Worley | Demonstrated at scale by Japanese investment partners
Gold Hydrogen is:
1. Applying proven
technology for Helium
extraction with;
2. Knowledge, support and
experience from GHY’s
strategic investors MGC
and ENEOS Xplora; and
3. Establishing proven gas
dissolved in water
commercial partnerships
22
Gold Hydrogen Limited
Single well
drilled
intersecting
both Helium
and Natural
Hydrogen
zones, with
selective
extraction.
Commercially Proven Technology
Natural Hydrogen and Helium Extraction From Each Wellhead
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Gold Hydrogen Limited
Commercial Helium and Hydrogen – Sample Global Projects
HELIUM HYDROGEN
In production since 2023
Renergen — Virginia Gas Project
Free State, South Africa
He concentrations up to 12% from U/Th radioactive decay in Vredefort Crater basement. Gas dissolved in
formation water and trapped beneath dolerite cap rock. Significant water production requires dewatering. Phase 1
producing liquid Helium (350 kg/day). LNG co-production. (Renergen (ASX: RLT) corporate disclosures 2024/5)
In production
Shanxi Fengsheng Company
Shanxi Province, China
Ultra-high purity Helium (99.9999%, 6N grade) from coalbed methane using integrated rectification, membrane,
PSA, alloy dehydrogenation, and cryogenic purification. Extraction of dissolved/entrained gases from water-bearing
coal seam formations. Technology applicable to He/H₂ co-extraction. (Industry trade press 2023/4, eg. Gasworld)
Historic production
Kansas Basin / Central Kansas Uplift
Kansas, USA
Up to 10% Helium with ~90% nitrogen. Groundwater was oversaturated with He-N₂; depressurisation caused
exsolution into free-gas phase. Water-bearing zones required dewatering to produce. One of the earliest
commercial Helium sources globally (from 1903). Some fields now depleted.
In production / supergiant
Hetianhe Field — Tarim Basin
Xinjiang, China
China's first supergiant helium field (~0.3% He). Neon concentrations tracking groundwater rise in step with
Helium, confirming Helium migrated dissolved in ancient groundwater before exsolving. Nitrogen acts as carrier
gas. Shallow, low-pressure traps in Carboniferous/Ordovician reservoirs. (Earth.com May 2026)
Commercial technology
Quantum Technology (Q18.1 He-PP)
Squamish, Canada / Blaine, USA / Léry, France
Proven commercial Helium production plant technology. Integrates membrane, PSA/VSA/TSA, and cryogenic
purification. 1–40 MMscfd feed gas, He purity 95–99.995%, 70–95% recovery. Plants deployed at inert gas,
hydrocarbon and water-bearing wells. BOO or SOE basis. (Quantum Technology Vendor Specification)
In production since 2012
Hydroma Inc. — Bourakébougou Field
Mali, West Africa
World's first and only operating natural H₂ project. 98% pure H₂ from dolomitic carbonate at ~100m. H₂ dissolved in
deep formation water degasses into shallow karstic voids at reduced pressure. Reservoir spontaneously recharges.
Powering village electricity since 2012. 25 wells drilled. (Rigollet & Prinzhofer (2022) Natural Hydrogen
article. Available on GHY website)
Proven discovery / Pre-dev
La Française de l'Énergie (FDE) / CNRS
Lorraine Basin, France
Discovered H₂ dissolved in deep aquifer water at 1,100–1,250m using gas probes in former coal basin. 14–208L H₂
measured in dissolved phase in groundwater. Estimated 6–250 Mt H₂. CNRS probe technology detects dissolved H₂
in rock formations to 1,500m. Advancing toward Europe's first natural H₂ production (target 2029). (GeoResources
Laboratory published estimates 2023/4. FDE corporate communications)
Commercial technology
Quantum Technology (Q16.4 QPure-H2)
Squamish, Canada / Blaine, USA / Léry, France
Proven commercial Hydrogen purification system. Produces saleable 99.7+% H₂ from green, grey, or blue sources.
Feed gas 100–3,000 SCFM, 1–40 bara feed pressure, 70–90% H₂ recovery. Removes N₂, O₂, H₂O, CO₂. Compact
modular skid with fast start-up/shutdown. 4–12 PSA vessels. ASME/CRN/NEC compliant. ATEX Zone II
rated. (Quantum Technology Vendor Specification)
KEY TAKEAWAY: Helium extraction from water-bearing systems is proven across
multiple geologies. Ramsay applies the same dissolved gas extraction process
used commercially in Japan for 70+ years with modern membrane and PSA
Helium / Natural Hydrogen extraction systems.
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Gold Hydrogen Limited
Committed to Developing Naturally
Occurring Hydrogen and Helium in
Austra
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