Prominence Energy Raises $1.75M, Secures Key Hydrogen Exploration Licence
Prominence Energy has achieved a pivotal milestone with the award of Petroleum Exploration Licence 803 for its Gawler Hydrogen Project, positioning itself as a key player in Australia's emerging natural hydrogen sector. The company also strengthened its leadership team and completed a $1.75 million capital raise to fund its growth ambitions.
- Award of PEL 803 for Gawler Hydrogen Project in South Australia
- Appointment of Dr Krista Davies as Chief Operating Officer
- Completion of $1.75 million placement from sophisticated investors
- Pending final regulatory approval to complete Gawler acquisition
- Ongoing evaluation of diverse energy assets including uranium and gas prospects
A Landmark Licence Award
Prominence Energy Limited (ASX, PRM) has marked a significant step in its evolution by securing Petroleum Exploration Licence (PEL) 803, a key permit covering a vast and geologically prospective area within the Gawler Craton in South Australia. This licence underpins the company’s Gawler Hydrogen Project, which spans over 63,000 square kilometres and places Prominence among a select group of early movers in natural hydrogen and helium exploration within the state.
The Gawler Craton is recognised for its unique geological features, including radiogenic granites and uranium mineralisation, which are believed to be critical sources and migration pathways for natural hydrogen and helium. The award of PEL 803 culminates more than three years of technical and corporate groundwork, offering Prominence a strategic platform to accelerate exploration activities with relatively low initial work commitments.
Leadership and Strategic Direction
Under Dr Davies’ guidance, Prominence is conducting comprehensive reviews of its portfolio, including legacy assets like the Big Apple Gas Prospect in the Gulf of Mexico and investments in uranium remediation in Kazakhstan and salt cavern energy storage projects in Australia. This holistic approach aims to ensure that all projects align with the company’s growth objectives and the evolving energy landscape.
Capital Raising and Financial Position
To support its expanding activities, Prominence successfully completed a $1.75 million placement in August 2025, attracting both existing and new sophisticated investors, including participation from current directors. This capital injection strengthens the company’s balance sheet, providing the necessary resources to advance the Gawler Hydrogen Project and meet regulatory and acquisition milestones.
Despite operating cash outflows of $227,000 during the quarter, Prominence ended September 2025 with a robust cash position of approximately $1.5 million, positioning it well to fund near-term exploration and corporate activities.
Regulatory and Market Context
The completion of the Gawler Hydrogen Project acquisition remains subject to final regulatory approvals, including consent under the Petroleum and Geothermal Energy Act 2000. The company is actively collaborating with authorities to expedite this process. The timing and outcome of these approvals will be critical in unlocking the project’s full potential.
Prominence’s progress comes amid growing global interest and investment in South Australia’s hydrogen sector, with international energy companies targeting the region’s clean energy opportunities. This broader momentum underscores the strategic value of Prominence’s assets and its positioning within the emerging natural hydrogen and helium markets.
Looking Ahead
With a strengthened leadership team, a significant exploration licence in hand, and a clear capital plan, Prominence Energy is poised to advance its integrated energy strategy. The coming quarters will be pivotal as the company moves from securing licences to executing on-ground exploration programs and further defining its role in Australia’s clean energy transition.
Bottom Line?
Prominence’s next challenge lies in securing final regulatory approvals and translating geological promise into tangible exploration success.
Questions in the middle?
- When will final regulatory approval for the Gawler Hydrogen Project acquisition be granted?
- What are the initial exploration plans and timelines for PEL 803 under Prominence’s stewardship?
- How will Prominence balance its legacy assets with its new hydrogen and helium focus?
