Business
HY-Range Seismic, Geochemistry & Portfolio Update
Thor Energy PLC is advancing its HY-Range Project in South Australia with a planned 2D seismic survey in mid-2026 to identify drilling targets, supported by an ongoing Phase-2 Geochemistry survey. The company has also successfully rationalised its portfolio, receiving A$375,000 from the Molyhil divestment with a further A$2.25 million expected in early 2026, plus significant deferred payments. Additionally, Thor completed the divestment of its US Uranium portfolio, retaining a carried 25% interest and securing a revenue-sharing agreement, which collectively provide non-dilutive funding for its exploration activities. Disclaimer*
About this update from Thor Energy Plc
[{"type":"text","content":"\n\n18 December 2025\n \nThor Energy PLC\n \n(\"Thor\" or the \"Company\")\n \nHY-Range Seismic, Geochemistry & Portfolio Adjustment Update\n \nThor Energy PLC (\"Thor\" or \"the Company\") (AIM, ASX: THR, OTCQB: THORF), well-funded specialists in Hydrogen and Helium exploration, is pleased to provide a comprehensive update on current and planned exploration activities at its flagship HY-Range Project (RSEL 802) in South Australia, alongside a corporate update highlighting a highly successful year of portfolio rationalisation and value generation.\n \nHIGHLIGHTS:\nHY-Range - Exploration and Planning\n· Line layout completed for a major 2D seismic survey covering several hundred line-kilometres to identify drilling targets.\n· Request for Quote (\"RFQ\") to be released shortly, survey expected mid-2026, with exploration drilling targeted for 2026 or thereafter.\n· A Phase-2 Geochemistry survey is currently underway to bolster models for hydrogen and helium migration, enriching the body of integrated data and evidence alongside reprocessed legacy seismic data, remote sensing, and offset well data.\n \nPortfolio Rationalisation - Significant Cash Inflows expected in early 2026\n· Strategic portfolio consolidation delivering significant, non-dilutive funding to execute the RSEL 802 work.\n· Australia - Molyhil Divestment: Sale of Thor's interest to Tivan Limited proceeding through final conditions precedents, including submission of approvals to the transaction to the Territory Government. Thor has already received A$375,000 with a further A$2.25 million anticipated in the new year upon successful completion, followed by three annual payments of A$1.3125 million in the Septembers of 2026, 2027, and 2028.\n· US Uranium: Deal completed for divestment of 75% equity in the URAVAN portfolio to Metals One PLC completed in cash and non-restricted shares, plus a separate binding revenue-sharing agreement signed with DISA Technologies. Thor retains a carried 25% interest in these Projects and looks forward to DISA tabling the 2026 evaluation and extraction plans.\n \nAndrew Hume, Managing Director and CEO, commented:\n\"We are delighted to report excellent progress in prosecuting our work plan for ...