Thor Energy PLC (THR) has announced that Go Exploration Pty Ltd, in which Thor holds an 80.2% stake, has successfully converted its petroleum exploration licence (PEL 120) into a regulated substance exploration licence (RSEL 802) in South Australia. This conversion, offered by the Department for Energy and Mining, marks a crucial step forward for Thor’s hydrogen exploration ambitions. The RSEL grants Go Exploration the right to explore for regulated substances, specifically including hydrogen and helium, within the designated area. This addresses a previous limitation on petroleum exploration licences issued before a 2021 amendment, which restricted hydrogen exploration. With the RSEL secured, Go Exploration will now move into the planning and execution phases of the initial exploration program. Thor Energy plans to keep the market updated on the progress. Managing Director Andrew Hume emphasized the significance of the RSEL 802 offer, highlighting its pivotal role in their hydrogen project. The company anticipates releasing the findings of their prospective natural hydrogen and helium resource assessment in the coming weeks, further fueling their confidence in the area’s potential. Thor Energy’s strategic shift towards hydrogen and helium exploration reflects the growing demand for clean energy resources.
