Thor Energy plc (LON:THR, ASX: THR, OTCQB: THORF) has announced that its subsidiary, Go Exploration Pty Ltd, has received an offer from the South Australian Department for Energy and Mining to be granted three Gas Storage Exploration Licences: GSEL 804, GSEL 805, and GSEL 806, which has been formally accepted.
Highlights:
· Thor Energy’s subsidiary, Go Exploration Pty Ltd, has been offered and has accepted three new Gas Storage Exploration Licences (GSELs 804, 805, and 806) by the South Australian Government.
· Licences strategically located in a region with potential for significant gas storage solutions.
· Grant of these licences aligns with the Company’s strategy to explore and develop energy resources in key Australian jurisdictions.
This offer follows an application made by Go Exploration on 23 August 2024. The GSELs provide the exclusive right to explore for subsurface sites suitable for development as underground gas storage facilities within the licence areas.
The licences are granted under the Energy Resources Act 2000 (SA) (the “Act) and will be effective upon execution of the licence documents. The offer is valid for 14 days from the date of the offer letter, 12 June 2025.
The GSELs are granted for an initial term, expiring on 1 July 2025, with a right for one further renewal term, subject to compliance with the Act. The Company intends to exercise this right and safeguard these licences for an additional five years (until mid-2030) to allow the assessment of gas storage potential.
The licences are illustrated in Figure 1, and their boundaries are outlined in Appendices 1-3.
Thor Energy Managing Director, Andrew Hume, commented:
“We are delighted to receive the offer for these Gas Storage Exploration Licences, which are located adjacent to the City of Adelaide and collectively cover an expansive area of more than 6300km2. These licences are contiguous with and substantially augment our South Australian natural hydrogen exploration portfolio. This defines a significant step in our strategy to explore in depth the diverse energy solutions that can support Australia’s energy security and transition.
“The potential for gas storage in this region of South Australia is substantial, and we look forward to working with both the South Australian Government and local stakeholders as we progress our exploration programmes. We will now execute the licence documents by formally accepting the offer.”
