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 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
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/.
