Prominence Energy Pushes Gawler Hydrogen Deal to December Amid Licence Milestone
Prominence Energy has extended its agreement to acquire the Gawler Hydrogen Project, allowing more time to secure final regulatory approvals and advance exploration in South Australia.
- Extension of acquisition agreement to 15 December 2025
- Award of Petroleum Exploration Licence 803 to project subsidiary
- Pending change-of-control regulatory approval
- Progress toward next phase of natural hydrogen exploration
- Commitment to positioning South Australia in hydrogen industry
Extension of Acquisition Agreement
Prominence Energy Ltd (ASX, PRM) has announced a strategic extension to its binding agreement to acquire full ownership of the Northern Hinge and Eyre Projects, collectively known as the Gawler Hydrogen Project in South Australia. The new deadline for completing the acquisition is now 15 December 2025, providing additional time to navigate the remaining regulatory approvals required to finalise the deal.
Key Milestone, Petroleum Exploration Licence Award
A significant development underpinning this extension is the recent award of Petroleum Exploration Licence (PEL) 803 to Cryptid Clean Energy Pty Ltd, a subsidiary of Gawler Group Holdings. This licence, granted on 21 August 2025, marks a pivotal step in enabling accelerated exploration activities within the project area. However, the licence’s change-of-control approval, a necessary administrative process overseen by the South Australian Department for Energy and Mining, remains underway.
Strategic Importance of Natural Hydrogen
The Gawler Hydrogen Project focuses on natural hydrogen, a clean energy source generated through geological processes beneath the earth’s surface. Unlike manufactured hydrogen, natural hydrogen offers a zero-carbon fuel option with minimal environmental impact and potentially lower production costs. Prominence Energy’s commitment to this project aligns with broader efforts to position South Australia as a leader in the emerging natural hydrogen sector.
Company Perspective and Next Steps
Dr Krista Davies, Chief Operating Officer of Prominence Energy, expressed optimism about the project’s progress and collaboration with Gawler Group Holdings. The extension is viewed as a practical measure to ensure all regulatory requirements are met without compromising momentum. The company is now preparing for the next phase of technical work and field activities, which will be critical in advancing the project’s development and unlocking its potential.
Broader Implications
This update underscores the complexities involved in pioneering natural hydrogen exploration, where regulatory processes can significantly influence timelines. While the extension signals patience and prudence, it also highlights the importance of regulatory certainty in attracting investment and driving innovation in Australia’s clean energy landscape.
Bottom Line?
Prominence Energy’s extended timeline offers breathing room but keeps investors watching closely for regulatory clearance and project momentum.
Questions in the middle?
- When will the change-of-control approval from South Australian authorities be finalized?
- How might delays in regulatory approvals impact the project’s exploration schedule and costs?
- What are the potential commercial implications if the acquisition does not complete by the extended deadline?
