REG - Thor Energy PLC - Conversion of Petroleum Exploration Licence

Thor EnergyAnnouncement

13/03/2025 07:00

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RNS Number : 4324A  Thor Energy PLC  13 March 2025

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.

13 March 2025

 

Thor Energy PLC

 

("Thor" or the "Company")

 

Conversion of Petroleum Exploration Licence to Regulated Substance Exploration
Licence

Offered by the Department for Energy and Mining in South Australia

 

Further to the announcement made on 30 October 2024, Thor Energy plc ("Thor")
(AIM, ASX: THR, OTCQB: THORF) is pleased to announce that Go Exploration Pty
Ltd ("Go Exploration"), in which Thor has an 80.2% interest has successfully
applied to convert the petroleum exploration licence (PEL 120) into a
regulated substance exploration licence (RSEL 802) offered by the Department
for Energy and Mining in South Australia.

 

A regulated substance exploration licence ("RSEL") grants the licensee the
right to conduct exploratory operations for regulated substances, including
hydrogen and helium, within a defined area.  The grant of an RSEL "cures" a
limitation that applies to petroleum exploration licences ("PEL") granted
before an amendment to the Petroleum and Geothermal Energy Regulations 2013
implemented in February 2021, which would otherwise not permit the licensee to
explore for hydrogen.

 

Go Exploration will now progress to planning and executing the initial
exploration phase. Thor will update the market as to the progress made by Go
Exploration as and when appropriate.

 

Andrew Hume, Managing Director, commented:

"The RSEL 802 conversion is a pivotal development for our hydrogen project.
With the results of our prospective natural hydrogen and helium resource
assessment expected to be released to the market in the coming weeks, we are
moving swiftly to finalise the licence and begin exploration, confident in the
area's potential."

 

-ENDS-

 

The Board of Thor Energy Plc has approved this announcement and authorised its
release.

 

For further information on the Company, please visit the website
(https://thorenergyplc.com/)  or please contact the following:

 

Thor Energy PLC

Andrew Hume, Managing Director

Alastair Clayton, Executive Chairman

Rowan Harland, Company Secretary

Tel: +61 (8) 6555 2950

 

Zeus (Nominated Adviser and Joint Broker)

Antonio Bossi / Darshan Patel / Gabriella Zwarts

Tel: +44 (0) 203 829 5000

 

SI Capital Limited (Joint Broker)

Nick Emerson

Tel: +44 (0) 1483 413 500

 

Yellow Jersey (Financial PR)

Dom Barretto / Shivantha Thambirajah / Bessie Elliot

thor@yellowjerseypr.com (mailto:thor@yellowjerseypr.com)

Tel: +44 (0) 20 3004 9512

 

About Thor Energy Plc

 

The Company is predominantly focused on uranium and energy metals and hydrogen
and helium that are crucial in the shift to a clean energy economy.

 

For further information on Thor Energy and to see an overview of its projects,
please visit the Company's website at https://thorenergyplc.com/
(https://thorenergyplc.com/) .

 

 

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