Groundbreaking Natural Hydrogen Results Confirmed
Released
Released
Announcement PDF
Gold Hydrogen Limited, Level 14, 110 Eagle Street (GPO Box 801) Brisbane, Qld 4000 | info@goldhydrogen.com.au | ABN 74 647 468 899 | 1
2 November 2026
ASX Announcement
Groundbreaking Natural Hydrogen Results Confirmed
Appraisal Testing Supports That Target Flow Rates Could
Exceed up to ~100kg/Day
Potential Natural Hydrogen Development and Green
Methanol Opportunity
Highlights
Natural Hydrogen was flowed to surface and separated in appraisal testing conditions in Ram-
say 3. This has also been previously successfully undertaken in Ramsay 2.
Appraisal testing confirms the potential for Natural Hydrogen production of approximately
100 kg per day per well at the Ramsay Project where concentrations of up to 97% on an air-
corrected basis have been recorded at Ramsay 3 during drilling. For future development,
horizontal well designs are expected to achieve and optimise Natural Hydrogen production.
This is equivalent to approximately 36.5 tonnes of Natural Hydrogen annually per well, as-
suming continuous production at the estimated rate.
Gold Hydrogen has over approximately 75,000km2
of prospective exploration areas and this
current program is only over a very small area, being less than 2,000km2
of PEL687 where we
have been active to date.
Outside of Mali in Africa, the Company is unaware of any other Natural Hydrogen appraisal
results of this magnitude.
As previously disclosed, the appraisal testing for Helium has confirmed the Ramsay Project is
possibly commercial with Helium on a stand-alone basis.
Modelling now supports that there is potentially enough Natural Hydrogen as a feed-stock to
support future commercial opportunities including a large-scale Green Methanol Plant also
on a stand-alone basis. Methanol is becoming increasingly sought after, specifically ‘Green
Methanol’ as a fuel source for global shipping dramatically cutting sulphur oxides, particulate
matter, and net carbon emissions, plus sustainable aviation, and many other uses including
energy storage.
Further technical assessment and testing is required to validate sustainable production rates
and commercial viability as the project progresses.
Gold Hydrogen Limited, Level 14, 110 Eagle Street (GPO Box 801) Brisbane, Qld 4000 | info@goldhydrogen.com.au | ABN 74 647 468 899 | 2
Isotopic results currently with internationally recognised laboratories for testing of Helium-
3.
Next Steps
The Company plans to focus on:
1. Laboratory analysis: Complete independent compositional and isotopic analysis of Ramsay 3
gas and water samples.
2. Green methanol feasibility: Incorporate Natural Hydrogen supply assumptions into the fea-
sibility assessment targeted for Q1 2027 working with the strategic investors; primarily
Mitsubishi Gas Chemical.
3. Drill more wells - Natural Hydrogen exploration planning: Complete geologic investigations
evaluating and ranking step-out drilling targets to assess the extent and potential scale of the
Natural Hydrogen system across the Company’s broader exploration permit areas.
4. Drill more wells for a Helium development: Continue step-out drilling targets to assess the
extent and potential scale of advancing the Helium resource assessment and potential devel-
opment pathway.
5. Reservoir modelling: Integrate the 2024–2026 flow and pressure data into the reservoir
model and further evaluate horizontal well concepts and reservoir variability.
Gold Hydrogen will provide further updates as material technical results and development
pathway assessments become available.
Chairman’s Comment
Gold Hydrogen Chairman, Alexander Downer, said:
“These results represent a significant milestone for Gold Hydrogen and reinforce the enormous
potential of the Ramsay Project. Our appraisal testing, combined with our engineering modelling,
indicates the potential to produce approximately 100kg of Natural Hydrogen per day from an
individual development well. This is an exciting prospect as we move towards evaluating
commercial development opportunities.
Outside the established Natural Hydrogen field in Mali, we are not aware of comparable appraisal
results of this nature.
Importantly, our work indicates the potential for two significant development opportunities at
Ramsay: a stand-alone Helium development and a Natural Hydrogen opportunity that could
potentially support a large-scale green methanol facility on the Yorke Peninsula. These
opportunities could provide Gold Hydrogen with multiple pathways to commercialisation.
Gold Hydrogen Limited, Level 14, 110 Eagle Street (GPO Box 801) Brisbane, Qld 4000 | info@goldhydrogen.com.au | ABN 74 647 468 899 | 3
Our immediate focus is on advancing the technical assessment, progressing the green methanol
feasibility study with Mitsubishi Gas Chemical, and continuing to advance our Helium resource
assessment and downstream development plans. We believe Ramsay has the potential to become
a strategically important source of both Helium and Natural Hydrogen, and we look forward to
progressing the work required to establish its commercial potential.”
Managing Director's Comment
Gold Hydrogen Managing Director, Neil McDonald, said:
"Appraisal testing and modelling now supports the potential for approximately 100kg of Natural
Hydrogen per day from a development well. Our modelling indicates that Natural Hydrogen,
combined with low-cost biogenic carbon available locally on the Yorke Peninsula, could support
production in the order of 20,000 tonnes, or more than 20 million litres, of green methanol per
annum. That is a scale of plant with genuine commercial relevance, and it is underpinned by
Hydrogen that does not need to be manufactured.
Green methanol is emerging as the leading low-carbon replacement for marine diesel, with the
shipping sector placing firm orders for methanol-fuelled vessels well ahead of secured fuel supply.
The combination of naturally occurring Hydrogen, local biogenic carbon and Mitsubishi Gas
Chemical's methanol technology and market position gives Gold Hydrogen a cost basis that
conventional electrolysis-based projects cannot easily match, based on the evidence available
from Mali.
Beyond our existing joint study with Mitsubishi Gas Chemical, we are now in discussions with
additional Japanese parties who have expressed interest in green methanol offtake or project
participation. Japan's demand for low-carbon marine fuels is substantial and growing, and
Ramsay is well placed to supply it.
The 100kg per day result changes the development conversation. We now have two stand-alone
commercial pathways at Ramsay, Helium and Natural Hydrogen into green methanol, and each
one strengthens the economics of the other. The green methanol feasibility study will now
incorporate these production assumptions, and we expect to report on it in the first quarter of
2027.
To put the opportunity in context, green methanol for the shipping sector is currently trading in
the range of US$900 to US$1,400 per tonne for bio-methanol and higher again for e-methanol,
against conventional marine fuel at US$500 to US$800. Few resource projects can point to a
product with such a high level of demand growth, a premium to the incumbent fuel, and the
backing of a technology partner of Mitsubishi Gas Chemical's standing."
Gold Hydrogen Limited, Level 14, 110 Eagle Street (GPO Box 801) Brisbane, Qld 4000 | info@goldhydrogen.com.au | ABN 74 647 468 899 | 4
Further Details
Further to the Company’s announcement of 20 October 2026, the Directors of Gold Hydrogen Limited
(Gold Hydrogen, ASX: GHY, the Company) advise that Natural Hydrogen flow testing of the Parara
Limestone at the Ramsay 3 well, Ramsay Project (PEL 687), Yorke Peninsula, South Australia, has been
completed. This concludes the Company’s 2026 Ramsay flow test campaign.
Global Analogue – Bourakébougou Natural Hydrogen Field, Mali
Bourakébougou in Mali is believed to be the only Natural Hydrogen field in the world with a sustained
production history. Hydrogen was discovered there by accident in 1987 while drilling a water well. Since
2012, the discovery well (Bougou-1) has supplied Natural Hydrogen to generate electricity for the village
of Bourakébougou. The operator, Hydroma, has since drilled 24 further wells that encountered Natural
Hydrogen.13
Bougou-1 has a reported flow rate of approximately 1,500m³ of gas per day at a Hydrogen purity of
approximately 98%,13
equivalent to roughly 125kg of Hydrogen per day. This is similar in scale to the
approximately 112kg/day modelled for a Ramsay development well (Table 2 below). The published
scientific study of the field reports no decline in reservoir pressure after 11 years of production, with
pressure rising slightly from 4.5 to 5 bar. The study’s authors interpret this as evidence that the reservoir
is being recharged.13
Green Methanol Opportunity with Mitsubishi Gas Chemical
In June 2026, the Company entered into a non-binding MOU with strategic shareholder Mitsubishi Gas
Chemical Company, Inc. (MGC), a leading global methanol producer and technology provider.8
Under the
MOU, the parties will assess the feasibility of a green methanol facility on the Yorke Peninsula. The facility
would use three main inputs: Natural Hydrogen from the Ramsay Project as feedstock, South Australian
renewable electricity, and a biogenic carbon source such as cereal crop straw.
Methanol production requires a reliable, continuous Hydrogen supply. At the modelled rate, each
development well would provide a steady Natural Hydrogen stream. The overall scale of any methanol
facility will depend on three factors: the number of development wells, the Natural Hydrogen
concentration confirmed through further testing, and the outcomes of the feasibility assessment. Gold
Hydrogen leads the feasibility assessment of Natural Hydrogen supply, and the 2026 flow test data,
including the Ramsay 3 results, will be incorporated into it. The feasibility assessment is now targeted for
completion in Q1 2027 (previously the end of 2026).8
Each subsequent stage is subject to satisfactory
results and a positive decision by both parties.
Building Scale – Step-Out Targets Along Trend
The Parara Limestone has been intersected in each of the Ramsay wells drilled to date. Natural Hydrogen
has been recorded from drilling or testing at Ramsay 1, Ramsay 2, Ramsay 3 and Ramsay 4,1,2,5,6
and gas-
zone continuity between Ramsay 2 and Ramsay 3 is interpreted over approximately 2.3km.5
The Company
is assessing step-out drilling targets along trend from the current Ramsay core project area, including free-
gas targets within its Yorke Peninsula tenure (PEL 687).
Gold Hydrogen Limited, Level 14, 110 Eagle Street (GPO Box 801) Brisbane, Qld 4000 | info@goldhydrogen.com.au | ABN 74 647 468 899 | 5
This aligns with the 2027–2028 exploration program outlined in the Company’s presentation of 14
October 2026.10
The targets would test the lateral extent of the Natural Hydrogen system, confirm
whether it extends beyond the core project area, and assess the potential to build scale. Targets will be
ranked using the integrated 2023–2026 dataset and the Company’s geological and geophysical data.
What the results tell us across the project
High Hydrogen purities across the project area: Six Parara Limestone Natural Hydrogen
measurements have been reported from Ramsay 1, 2 and 3 since 2023. On average, Natural Hydrogen
made up about 78% of the gas measured (refer Table 1 below).
Horizonal wells could produce much more: Ramsay flow testing shows that the more reservoir rock a
well is open to, the more it can produce. On the Company’s modelling, a horizontal well drilled 500 to
1,000 metres along the reservoir could be several times more productive than the vertical wells tested
to date.
Up to 100 kg of Hydrogen per day per well can be produced from modelling: A future development
well pumping 20,000 barrels of water per day, the capacity of the pump already installed at Ramsay 3,
is modelled to produce up to 112kg of Natural Hydrogen per day.
Similar in scale to the world’s only producing Natural Hydrogen field: The discovery well at
Bourakébougou in Mali, which has supplied Natural Hydrogen for village power since 2012, has a
reported flow of about 125kg of Natural Hydrogen per day. That is similar in scale to the ~112kg/day
modelled for a Ramsay development well.
Where to from here
Green methanol with Mitsubishi Gas Chemical: Natural Hydrogen from Ramsay is the proposed
feedstock for a green methanol plant on the Yorke Peninsula. The plant is being studied with
shareholder Mitsubishi Gas Chemical under a non-binding MOU. The test results will feed into the
feasibility study, now targeted for completion in Q1 2027.
New drilling targets for 2027: The Company is identifying step-out drilling targets along trend from
the Ramsay wells. These would test how far the Natural Hydrogen system extends, including free-gas
targets to help build scale.
Helium remains on track: The Company’s Helium plans are unchanged, including the maiden Helium
Contingent Resource targeted for November 2026.
Ramsay Project Natural Hydrogen Testing – Natural Hydrogen Flow Test of the Parara Limestone
During drilling, Ramsay 3 recorded air-corrected Natural Hydrogen concentrations of up to 97% in the
Parara Limestone from calibrated mud gas and isotube data.5
After the Helium flow test program, the
Kulpara Dolomite perforations were isolated and the Parara Limestone was perforated over 69m interval
between 170m and 464m measured depth. It was then flow tested with the ESP set at approximately
480m from 13 to 16 October 2026.
Gold Hydrogen Limited, Level 14, 110 Eagle Street (GPO Box 801) Brisbane, Qld 4000 | info@goldhydrogen.com.au | ABN 74 647 468 899 | 6
Test Result Summary of Integrated Ramsay Natural Hydrogen Testing Programs:
1. Gross fluid rates of up to approximately 1700 bbl/day were achieved from the Parara Limestone at an
implied drawdown of approximately 400 psi. This indicates a Productivity Index of approximately 3
with a potential upside to 85 bbl/day/psi as was shown in Ramsay 2;
2. Gas was flowed to surface and separated; Natural Hydrogen concentrations were measured in the
gross gas stream during the test. The balance of the gas stream comprised predominantly of Natural
Hydrogen, Nitrogen and CO2;
3. Pressure, temperature and flow rate data were acquired throughout the flow test; and
4. Gas and water samples were collected for independent laboratory compositional and isotopic
analysis.
Full technical details are set out in Table 3 appended (ASX Listing Rule 5.30 information). The figures stated
are preliminary field-derived measurements and some remain subject to confirmation by additional
independent laboratory analysis and further company interpretation.
Field-Wide Natural Hydrogen Concentrations (2023–2026)
Natural Hydrogen concentrations have been reported from drilling and testing at Ramsay 1, Ramsay 2 and
Ramsay 3 since 2023 (see Table 1 below). Their arithmetic average is approximately 78%. The Company
has adopted this field-wide average as a basis of selected datapoints for preliminary deliverability
modelling.
Table 1 – Ramsay Project Natural Hydrogen concentrations reported to the ASX, 2023–2026
Integrating the 2024 and 2026 Parara Limestone Flow Test Results
The Parara Limestone has now been flow tested in three separate tests across two wells: Ramsay 2 in
2024, Ramsay 2 in 2026 and Ramsay 3 in 2026. Taken together, these results give the Company a
materially better understanding of the deliverability of the Natural Hydrogen-bearing reservoir.
Well Campaign Measurement type
Depth /
formation
H2
concentration
(air-corrected)
Basis
Ramsay 1 2023 drilling
Isojar mud gas
sample (laboratory
analysed)
240m, Parara
Limestone
73.3% Maximum
Ramsay 2 2023 drilling
Calibrated mud gas,
checked against
isotubes
194–199m,
Parara
Limestone
Up to
86%
Maximum
Ramsay 2
2024 Stage 1
testing
Downhole sample,
zonal pressure test
531–536m,
Kulpara
Formation
(interpreted)
Up to
95.8%
Maximum
Ramsay 2
2024 Stage 2
testing
Commingled
pressure test
(Zones 7 and 8)
197m and
289m, Parara
Limestone
42%
Still
increasing
when
reported
Gold Hydrogen Limited, Level 14, 110 Eagle Street (GPO Box 801) Brisbane, Qld 4000 | info@goldhydrogen.com.au | ABN 74 647 468 899 | 7
Well Campaign Measurement type
Depth /
formation
H2
concentration
(air-corrected)
Basis
Ramsay 3
2025 drilling
and 2026
testing
Calibrated mud gas
and isotubes; initial
laboratory analysis.
Separated gas, ESP
flow test
Parara
Limestone
170 - 464m,
Parara and
Kulpara
Limestone
Up to
97%
Maximum
Field-wide ~78%
Arithmetic
average of
six results
Notes: Arithmetic average of the six quantified Natural Hydrogen concentrations reported to the ASX for the Ramsay Project: (73.3%
+ 86% + 95.8% + 42% + 97%) ÷ 5 = 78%. On a like-for-like basis, the three drilling results average approximately 85% and the three
flow and pressure test results average approximately 48%. All results remain subject to further laboratory confirmation.
The Company’s internal modelling indicates that completing the full Parara Limestone interval at Ramsay
2 could increase the PI to up to approximately 15 bbl/day/psi. At a 450 psi drawdown, that equates to a
gross fluid rate potential of up to approximately 6,750 bbl/day. On the same basis, the PI of approximately
6 bbl/day/psi interpreted from the 2026 Ramsay 2 test equates to a gross fluid rate potential of
approximately 2,700 bbl/day.
Horizontal Well Development Concept
As with Helium, Natural Hydrogen at Ramsay is interpreted to be carried in solution in formation water
and liberated at surface by separation. Natural Hydrogen production is therefore a direct function of three
things: the volume of water produced, its gas–water ratio, and the Natural Hydrogen concentration of
that gas. Maximising fluid deliverability per well is central to the economics of a Natural Hydrogen
development.
Horizontal wells expose substantially more reservoir to the wellbore than vertical wells, and they are
widely used to develop limestone reservoirs. The Company has applied the average PI of approximately
0.1 bbl/day/psi per metre from the Ramsay flow tests to the length of a horizontal section. Table 2 below
shows the resulting indicative productivity.
Gold Hydrogen Limited, Level 14, 110 Eagle Street (GPO Box 801) Brisbane, Qld 4000 | info@goldhydrogen.com.au | ABN 74 647 468 899 | 8
Table 2 – Indicative well productivity and modelled Natural Hydrogen rates (Parara Limestone)
Well case
PI
(bbl/
day/
psi)
Potent
ial at
450 psi
drawd
own
(bbl/d
ay)
Modell
ed
gross
fluid
rate
(bbl/d
ay)a
Draw
down
for
20,00
0
bbl/d
ay
(psi)
Natur
al
Hydr
ogen
(Mscf
/day)
b
Natur
al
Hydro
gen
(kg/da
y)b
Vertical – Ramsay 2,
2026 (interpreted)
~6 ~2,700 2,700 – ~6.3 ~15
Vertical – Ramsay 2,
2024 (two zones)
~8.5 ~3,825 3,825 – ~9 ~21
Vertical – full Parara
Limestone (modelled)
Up to
~15
~6,750 6,750 – ~15.7 ~38
Horizontal – 500 m
(modelled)
Up to
~50
~22,50
0
20,000 ~400 ~46.8 ~112
Notes: (a) Modelled rates are limited to 20,000 bbl/day, the rated capacity of the ESP installed at Ramsay 3. (b) Assumes a gas–water
ratio of approximately 3 scf/bbl and the field-wide average Natural Hydrogen concentration of approximately 78% (Table 1); 1 kg of
Hydrogen ≈ 415 scf at standard conditions. All rates other than the measured Ramsay 2 Productivity Indices are modelled. No horizontal
well has been drilled at the Ramsay Project.
The horizontal well cases offer two potential benefits. Firstly, a higher PI would allow a development well
to reach the 20,000 bbl/day design rate at a lower drawdown: approximately 400psi for a 500m horizontal
section. Secondly, the additional productivity provides a buffer against reservoir heterogeneity.
Reservoir heterogeneity introduces uncertainty, and the PI achieved in future development wells may
vary thus the per-metre approach is a simplified screening method. Horizontal well performance depends
on factors including fracture distribution and orientation, vertical permeability and completion design.
These factors will be assessed in future reservoir modelling.
Natural Hydrogen Yield Assumptions
The modelled Natural Hydrogen rates in Table 2 adopt:
an in-situ gas–water ratio of approximately 3 scf/bbl, derived from downhole bailer samples collected
during the 2024 Ramsay 1 flow test.7
This is the same basis adopted for the Company’s Helium
modelling; and
the field-wide average Natural Hydrogen concentration of approximately 78%, being the arithmetic
average of all quantified concentrations reported to the ASX for the Ramsay Project from 2023 to 2026
(Table 1).
On this basis, each 1,000 bbl of produced formation water would yield approximately 2,000scf
(approximately 4.8kg) of Natural Hydrogen. A development well producing 20,000 bbl/day would
therefore yield approximately 46.8Mscf/day (approximately 112kg/day) of Natural Hydrogen.
Gold Hydrogen Limited, Level 14, 110 Eagle Street (GPO Box 801) Brisbane, Qld 4000 | info@goldhydrogen.com.au | ABN 74 647 468 899 | 9
Important Risk Commentary
It is important to note that there remain both geological and potential development risks associated with
the Ramsay Project and the Company’s commercial and business objectives. The results described in this
announcement are from exploration and appraisal drilling and flow tests. They do not confirm
commercially recoverable Natural Hydrogen, sustained flow rates or project economics. The field-wide
average concentration is an arithmetic average of results obtained by different methods. It may not be
representative of the concentration of gas produced from future development wells. Field measurements
reported in this announcement have uncertainty, are preliminary and remain subject to laboratory
confirmation.
Modelled Productivity Indices, gross fluid rates and Natural Hydrogen rates for vertical and horizontal
development wells have not been demonstrated by flow testing, and no horizontal well has been drilled
at the Ramsay Project. Reservoir heterogeneity may cause actual well performance to differ materially
from modelled values. There is no certainty of any of the following: that Natural Hydrogen can be
produced at the concentrations or rates modelled; that the MOU with MGC will progress to a binding
agreement; that a green methanol facility will be developed; that step-out drilling will proceed or be
successful; that Contingent Resources will be able to be booked; or that commercial viability can be
established. Information on the Bourakébougou field in Mali is drawn from published third-party sources,
has not been independently verified by the Company and is provided for context only.
Gold Hydrogen’s exploration and appraisal activities for Natural Hydrogen and Helium are regulated under
the South Australian Energy Resources Act 2000 and associated regulations. The modelling of Natural
Hydrogen and Helium reservoirs, and of potential production rates, is based on industry best practice
relying on petroleum industry methods. Gold Hydrogen’s project assessment and development follows
that recommended by the Society of Petroleum Engineers and its Petroleum Resources Management
System (SPE-PRMS).
Cautionary Note on Modelled Flow Rates
The modelled Productivity Indices, flow rates and Natural Hydrogen rates are outcomes of the Company’s
deliverability modelling prepared by Mr Billy Hadi Subrata, Gold Hydrogen’s Chief Technical Officer.
The maximum gross fluid rate demonstrated from the Parara Limestone to date is approximately 1700
bbl/day at Ramsay 3 and Hydrogen concentrations of range from ~6-97% during drilling and testing. Due
to a range of sub-surface and operational conditions, actual flow rates and Natural Hydrogen rates may
differ materially from modelled rates. The modelled rates are not an estimate of Natural Hydrogen
reserves, contingent resources or prospective resources and should not be relied upon as such. They are
forward-looking statements based on modelling work to date and should be read subject to the Forward
Looking Statement below.
Gold Hydrogen Limited, Level 14, 110 Eagle Street (GPO Box 801) Brisbane, Qld 4000 | info@goldhydrogen.com.au | ABN 74 647 468 899 | 10
Qualified Petroleum Reserves and Resources Evaluator (QPRRE) Statement
The information in this announcement that relates to the following matters is based on, and fairly
represents, information and supporting documentation prepared by Mr Billy Hadi Subrata, Chief Technical
Officer for Gold Hydrogen, who is a Qualified Petroleum Reserves and Resources Evaluator: the results of
the Ramsay 2 and Ramsay 3 Parara Limestone flow tests; the field-wide average Natural Hydrogen
concentration; the derived and interpreted Productivity Indices; and the modelled flow rates and Natural
Hydrogen rates. Mr Hadi Subrata has consented to the inclusion of this information in the form and
context in which it appears.
References and Previous Company Disclosures
1
ASX release “Ramsay Project Update: Significant Concentrations of Hydrogen and Helium Detected in the Ramsay
1 Well” dated 31 October 2023.
2
ASX release “Very High Concentrations of Hydrogen Found at Ramsay 2” dated 19 December 2023.
3
ASX release “Stage 1 Interim Exploration Well Testing Update” dated 27 May 2024.
4
ASX release “Project and Corporate Update – Interim Well Testing Results” dated 2 August 2024, and Quarterly
Activities Report dated 25 October 2024.
5
ASX release “Ramsay 3 Confirms High Purity Natural Hydrogen” dated 2 December 2025.
6
ASX releases “Natural Hydrogen and Helium Formation Continuity in Ramsay 4” dated 16 December 2025 and
“Ramsay Project and Corporate Update” dated 28 April 2026.
7
ASX release “Ramsay 1 Flow Test Results Enhance Helium Pathway” dated 5 August 2026.
8
ASX release “MOU Executed with MGC for Green Methanol Studies” dated 29 June 2026.
9
ASX release “Ramsay Helium Flow Test Campaign Completed” dated 20 October 2026.
10
ASX release “Presentation to HENCA Tokyo Conference” dated 14 October 2026.
11
ASX release “Ramsay 2 Flow Testing Confirms Helium Zone Continuity” dated 25 August 2026.
12
Quarterly Activities Report dated 30 April 2026.
13
Maiga, O., Deville, E., Laval, J., Prinzhofer, A. and Diallo, A.B. (2023), “Characterization of the spontaneously
recharging Natural Hydrogen reservoirs of Bourakebougou in Mali”, Scientific Reports 13, 11876.
14
The Royal Society (June 2025), “Natural hydrogen: future energy and resources”, policy briefing.
15
Rystad Energy, “The white gold rush and the pursuit of Natural Hydrogen”.
16
Mathur, Y., Moise, H., Aydin, Y. and Mukerji, T., “Techno-economic analysis of natural and stimulated geological
hydrogen”, Stanford University (published in the International Journal of Hydrogen Energy, 2025).
The Company confirms that it is not aware of any new information or data that materially affects the
information included in the previous market announcements referred to above and that all material
assumptions and technical parameters underpinning those disclosures continue to apply and have not
materially changed.
Gold Hydrogen Limited, Level 14, 110 Eagle Street (GPO Box 801) Brisbane, Qld 4000 | info@goldhydrogen.com.au | ABN 74 647 468 899 | 11
Further Information
Further information on the Gold Hydrogen group, its projects, and its Board and Management can be
found on the Company’s website ( www.goldhydrogen.com.au ). Gold Hydrogen also has accounts on
LinkedIn and Twitter (@GHY_ASX), and copies of market releases will be emailed to all interested parties
who register via investorhub.goldhydrogen.com.au/auth/signup.
This announcement has been authorised for release by the Board of Directors.
On behalf of the Board
Karl Schlobohm
Company Secretary
For Company Enquiries Contact:
Neil McDonald – Managing Director Karl Schlobohm – Company Secretary / CFO
nmcdonald@goldhydrogen.com.au kschlobohm@goldhydrogen.com.au
+61 7 3521 8038 +61 7 3521 8038
For Media Enquiries Contact:
Matthew Doman – Crestview Strategy
matthew.doman@crestviewstrategy.com
+61 421 888 858
Forward Looking Statement / Future Performance
This announcement may contain certain forward-looking statements and opinion. Forward-looking
statements, including aspirational forward-plans, projections, forecasts and estimates, are provided as a
general guide only and should not be relied on as an indication or guarantee of future performance and
involve known and unknown risks, uncertainties, assumptions, contingencies and other important factors,
many of which are outside the control of the Company and which are subject to change without notice
and could cause the actual results, performance or achievements of the Company to be materially
different from the future results, performance or achievements expressed or implied by such statements.
Past performance is not necessarily a guide to future performance and no representation or warranty is
made as to the likelihood of achievement or reasonableness of any forward-looking statements or other
forecast. Nothing contained in this announcement, nor any information made available to you is, or and
shall be relied upon as, a promise, representation, warranty or guarantee as to the past, present or the
future performance of Gold Hydrogen Limited.
Gold Hydrogen Limited, Level 14, 110 Eagle Street (GPO Box 801) Brisbane, Qld 4000 | info@goldhydrogen.com.au | ABN 74 647 468 899 | 12
Table 3 – Ramsay 3 Natural Hydrogen Flow Test – Parara Limestone (ASX Listing Rule 5.30 Disclosures)
Name of well: Ramsay 3 – 2026 test
Location (UTM zone 53
GDA2020)
UTM zone 53 GDA2020: X 749096 mE / Y 6151186 mN
Permit PEL 687
Entity’s working interest Gold Hydrogen 100%
Resources Natural Hydrogen
Formation Parara Limestone (Natural Hydrogen target zone)
Gross thickness and net pay
thickness
16 m gross Parara Limestone (preliminary, refer 30 April 2026).12
Perforation interval of 69m.
Insufficient information is presently available to determine net pay
thickness.
Geo
Share your feedback
Discover