Prominence Energy Advances South Australian Helium and Hydrogen Exploration with Strong Results and $1.56M Capital Raise

Strong Gas Anomalies Confirmed at PEL 803

Prominence Energy (ASX:PRM) has taken a significant step forward in its South Australian helium and natural hydrogen exploration, with its first on-ground soil gas survey at PEL 803 delivering compelling results. Independent laboratory analysis confirmed helium concentrations up to 63 parts per million; more than 12 times atmospheric background; and natural hydrogen levels reaching 3,427 ppm, exceeding 6,200 times background levels. Elevated hydrogen was detected in 64% of samples, reinforcing the presence of an active subsurface gas system.

The initial field program, completed in April, also recorded methane anomalies up to 5,000 ppm. These findings align closely with Prominence’s geological model, which ties gas anomalies to structural corridors and prospective source rocks, providing early validation of the company’s exploration approach.

Satellite Data and CSIRO Collaboration Bolster Exploration

Adding another layer of confidence, an independent satellite remote sensing study identified widespread helium, natural hydrogen, and methane anomalies across the Eyre Project, with several strong anomalies coinciding with the soil gas survey’s elevated readings. This convergence of geochemical, geophysical, and satellite data has materially expanded Prominence’s evidence base for defining and ranking leads and prospects.

Further strengthening its technical capabilities, Prominence secured matched funding under the CSIRO Kick-Start program for an eight-month collaborative research project. This initiative taps into CSIRO’s expertise in geochemistry and multi-physics modelling to refine exploration workflows and develop practical screening tools applicable across Prominence’s broader Gawler portfolio.

Capital Raise Supports Next Exploration Phase

To fund ongoing licence progression, advanced geophysics, and lead definition, Prominence raised $1.56 million through a placement priced at $0.0022 per share, including free-attaching options exercisable at $0.004. The capital injection provides a solid financial foundation to advance the company’s South Australian helium and hydrogen projects while maintaining a disciplined approach to future drilling expenditure.

At quarter-end, Prominence held approximately $1.72 million in cash, with an estimated 3.8 quarters of funding available based on current outgoings. The company expects this cash position to cover the 2026 technical work program, including prospective resource reviews and drilling engineering updates.

Pathway to Mid-2027 Drilling with Cost-Efficient Program

Looking ahead, Prominence confirmed a staged pathway toward drilling in mid-2027. Preliminary cost estimates suggest around $5 million could fund three exploration wells or alternatively two wells plus additional seismic acquisition, reflecting the relatively shallow nature of the targets. The company is progressing gravity and magnetic data inversion to support lead development and plans independent prospective resource reviews for the Eyre and Northern Hinge Projects by September.

Prominence intends to use existing datasets and advanced geophysical interpretation to improve target definition before committing significant drilling capital. The company is also preparing for potential farm-out or strategic partnerships to reduce direct capital exposure while retaining meaningful participation in exploration success.

Non-Core Assets and Corporate Updates

Prominence has deprioritized non-core assets, relinquishing its Gulf of Mexico Big Apple Gas Prospect following technical and commercial assessment. The company retains minority interests in Kazakhstan uranium remediation (Umine LLP, 20%) and ECOSSAUS Ltd (10.4%), which focuses on gas storage and greenhouse gas sequestration in salt caverns.

Corporate changes included the resignation of Joint Company Secretary Jennifer Voon, replaced by Catherine Earlie alongside Henko Vos. The company continues to engage investors actively, with recent webinars highlighting the exploration potential and upcoming milestones.