Business
Completion of HY-Range Phase 2 Geochemical Survey
Thor Energy PLC has successfully completed its Phase-2 Geochemistry survey at the HY-Range natural hydrogen exploration project in South Australia, safely and on budget. This three-month survey builds upon previous findings of elevated natural hydrogen up to 3,000 ppm and helium anomalies, with new data confirming earlier results and enhancing exploration knowledge. Rigorous sampling methodologies were employed to eliminate the risk of anthropogenic contamination, and preliminary analysis of the acquired data is underway, with results expected in the coming weeks. The company is also progressing with tendering for a 2D exploration seismic survey planned for later this year. Disclaimer*
About this update from Thor Energy Plc
17 March 2026 Thor Energy PLC ("Thor" or the "Company") Completion of HY-Range Phase 2 Natural Hydrogen and Helium Geochemical Survey Thor Energy Plc (AIM, ASX: THR, OTCQB: THORF) is pleased to announce the successful, safe and on-budget completion of its Phase-2 Geochemistry survey at the company's 80.2%-owned HY-Range natural hydrogen exploration project, within Regulated Substance Exploration Licence (RSEL) 802, South Australia. Highlights: · Survey Completion: The extensive sampling programme successfully concluded following a rigorous three-month test period. · Building on Discovery: The survey was specifically designed to build upon the outstanding data results and innovative techniques developed during the Phase 1 survey in May 2025, which recorded highly elevated natural hydrogen up to 3,000 ppm1, or approximately 6000 times the normal background value, along with helium anomalies. · Core Objectives Achieved: The campaign successfully fulfilled all its primary design goals: 1. Targeted Infill: adding exploration knowledge by increasing coverage of Phase-1 low coverage areas and enhancing density in Thor's high focus exploration areas, with results confirming Phase-1 outcomes. 2. Robust Sampling: removing the risk that results could be explained as anthropogenic (man-made) sample contamination, rather than authentic natural hydrogen, was imperative. Learning from and evolving Phase-1 techniques, Thor and its contractor, SGS, developed rigorous sampling methodologies to deliver robust data acquisition and confidence in Phase-1 and Phase-2 results. 3. Technique Evolution: Evolving and innovating through the planning and execution of Phase-2 to refine acquisition and sampling processes for future programmes. Follow-up news: The preliminary analysis of the acquired survey data is currently underway, with the Company expecting to announce the results to shareholders in the coming weeks. Andrew Hume, Managing Director of Thor Energy, commented: "We are delighted to report the highly successful completion of our phase-2 geochemistry survey at the HY-Range Project, safely and on-budget. Following the exceptional natural hydrogen and helium readings recorded in May 2025, it was imp...