Financial Boost for 2025 Work Program
Gold Hydrogen Limited (ASX: GHY) has received a $6.45 million R&D tax refund related to its Natural Hydrogen and Helium exploration activities for the financial year ending June 30, 2024. Combined with its existing cash reserves of approximately $7 million, the company is well-positioned to execute its 2025 work program.
Strengthening the Technical Team
Gold Hydrogen has appointed Peter Bubendorfer as Chief Geologist. With over 30 years of experience in the oil and gas sector, including key roles at ADZ Energy, Armour Energy, Bow Energy, and Arrow Energy, Peter brings deep expertise in gas exploration, seismic interpretation, and geological assessment. His past successes include identifying foundational assets for companies that were later acquired.
Peter will collaborate with Frank Glass and Julien Bourdet, alongside Chief Technical Officer Billy Hadi-Subrata, to enhance the company’s exploration strategy.
Additionally, Executive Director Roger Cressey will take on the Chief Operating Officer (COO) role on an interim basis, following the departure of Josh Whitcombe, who is pursuing other opportunities in the industry. The company anticipates further recruitment as it advances its 2025 exploration program.
2025 Work Program and Exploration Plans
Gold Hydrogen is integrating drilling and seismic data from the Ramsay Project to refine its 2025 drilling and data acquisition campaign. Key aspects include:
- Drilling multiple wells to appraise target zones within the Ramsay Natural Hydrogen and Helium accumulation.
- Modified well designs to enhance testing flexibility.
- Pilot project planning to evaluate commercial production potential.
The Ramsay 2D seismic survey, completed in Q3 2024, has revealed multiple high-priority drill locations, particularly up-dip from Ramsay 1 and Ramsay 2, which will be assessed for 2025 drilling. Additionally, several new Natural Hydrogen and Helium prospects have been identified, with some earmarked for future dedicated exploration wells.
To further enhance subsurface understanding, a 3D seismic survey is in the early planning stages. This will provide deeper insights into the Ramsay Project’s geological structure, helping to optimize future drilling locations.
Gold Hydrogen remains committed to advancing its exploration activities and unlocking the commercial potential of Natural Hydrogen and Helium.
