2H Resources Ltd, the wholly-owned subsidiary of Buru Energy Ltd (ASX:BRU, OTC:BRNGF) (Buru Energy Ltd (ASX:BRU, OTC:BRNGF), Buru Energy Ltd (ASX:BRU, OTC:BRNGF)), is looking forward to commencing testing for hydrogen and helium in its suite of hydrogen-prospective tenements in South Australia after Gold Hydrogen Ltd (ASX:GHY) confirmed the presence of natural hydrogen at the Ramsay 1 well.
2H Resources is the preferred applicant for seven South Australian Petroleum Exploration Licences and two additional applications for Gas Storage Exploration Licences in the same region, covering about 30,000 square kilometres of hydrogen-prospective ground.
Importantly, the licences cover geology of a similar nature to that found at the Ramsay 1 well, which was recently confirmed to be a significant hydrogen and helium discovery.
Neighbour's success
“2H Resources has been an integral adjacency to Buru’s core natural gas development activity leveraging our extensive geological and operational expertise," Buru Energy CEO Thomas Nador said.
"We are therefore delighted with the success of the adjacent operator in South Australia and the implications that has for our areas.”
Activity in Western Australia
In addition to its South Australian licences, 2H has also been awarded six Special Prospecting Authorities with an Acreage Option (SPA-AO’s) adjacent to the Perth Basin and in the Goldfields area in Western Australia, areas thought to be highly prospective for helium and associated gases.
"We are also very pleased that the Western Australian Government has reopened the state for Special Prospecting Authority applications that has allowed us to apply for areas that we have identified as having high prospectivity for 2H Resources activity.
We look forward to continuing to grow the 2H Resources business and adding value for all shareholders by innovative and timely portfolio enhancement,” Nador said.
2H Resources continues to grow in value for Buru as it adds to its gas portfolio, offering substantial exposure to emerging gas and energy resource opportunities.