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Prominence Energy Limited (ASX:PRM)

ALERT: Price-sensitive ASX Announcement for PRM
Current share price for PRM : $0.001 -0.001 (-33.33%)+
Announcement
Release
29 Jul 2026 9:09AM
Price at Release
$0.002
Full Release
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Summary
Prominence Energy Limited reported significant progress in its South Australian helium and natural hydrogen project during the quarter ending 30 June 2026. The company completed its first exploration program at PEL 803, with results confirming the presence of helium, natural hydrogen, and methane. Independent analysis validated these findings, showing elevated gas concentrations well above atmospheric levels. Additionally, a satellite study corroborated these findings by identifying widespread gas anomalies. Prominence secured $1.56 million in funding and CSIRO Kick-Start support to advance its exploration efforts. The company's cash balance was $1,718,573 at the quarter's end, and it continues to focus on defining prospects and preparing for future drilling activities.
Key Points
  • Prominence Energy completed the first on-ground exploration program at PEL 803 in South Australia, confirming helium, natural hydrogen, and methane presence.
  • Independent laboratory analysis showed helium concentrations up to 63 ppm, and hydrogen up to 3,427 ppm.
  • A satellite study identified widespread gas anomalies, supporting the exploration model.
  • Prominence raised $1.56 million to support the exploration and technical work.
  • The company's cash position at the end of the quarter was $1,718,573.
  • Prominence secured CSIRO Kick-Start funding for further research on helium and hydrogen exploration.
  • The company is focusing on converting exploration results into defined prospects and preparing for drilling planned in mid-2027.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.