GHY: Ramsay Project Operational Update Exploration Well Testing...

GHY: Ramsay Project Operational Update Exploration Well Testing Operations to Commence.
Highlights:

• Exploration well testing operations, which are pioneering for both Natural Hydrogen and Helium in a non-petroleum system, are set to commence today at the site of the Company’s successful Ramsay 1 and Ramsay 2 exploration wells.
• This is very much a new energy and resource play that Gold Hydrogen has confirmed with historical data, and with its recent exploration and drilling results.
• The Company’s Ramsay 1 and Ramsay 2 wells drilled late last year found Natural Hydrogen at up to 86% purity, and Helium at up to 6.8% of raw gas, as previously reported.
• The independent best estimate Prospective Resource for Natural Hydrogen on the Company’s 100% owned PEL 687 is 1.3 billion kilograms, and for Helium the mean estimated Prospective Resource is 96 billion cubic feet (Bcf) over approximately 25% of the tenement. Refer Tables 1 and 2 for full details.
• The Company has significant prospective resources with large-scale potential.
• This is the start of a very exciting technical journey, and is not dissimilar to the eventual success of existing world-renowned oil and gas energy projects, which took time to reach their full potential.
• The objectives of the exploration well tests are to obtain more samples of both Natural Hydrogen and Helium for further specialist analysis in world-leading laboratories, and to extract both Natural Hydrogen and Helium to surface.
• Testing operations are expected to take most of March, with preliminary technical results from the overall testing of both the Ramsay 1 and Ramsay 2 exploration wells program expected by April, with further detailed laboratory analysis ongoing.
• Results from the testing program will provide the Company with valuable information for future drilling and well completion designs, for the future pilot program, and longer-term commercialisation planning.
• Planning continues on the Company’s broader 2024 work program, including a regional 2D seismic program and the drilling of additional wells.
• The nearology is palpable. Let’s see what they really got. And since they got no place to go, Let it Flow, Let it Flow, Let it Flow.