Thor Energy Advances HY-Range Natural Hydrogen Project with Seismic Survey
Thor Energy PLC has initiated a 464 km seismic survey at its HY-Range project, supported by A$2.8 million in cash reserves. This survey aims to correlate surface natural hydrogen readings of up to 3% with subsurface geological structures, crucial for future drilling and exploration efforts.
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Thor Energy PLC is conducting a 464 km 2D seismic survey at its HY-Range project, funded by existing cash reserves of A$2,815,000 as of June 30, 2026. The survey, contracted to Velseis Pty Ltd, is intended to link surface geochemistry, which indicated hydrogen concentrations reaching 3% (30,000 ppm), with deep geological formations necessary for hydrogen accumulation.
The HY-Range site is located on a 6,332 km² license area near Adelaide, targeting the Torrens Hinge Zone. The company expects to finalize seismic data acquisition by late 2026, integrating it with prior geochemical findings to enhance exploration strategies. As of the latest quarter, Thor's net cash outflow amounted to A$501,000, with a projected 5.6 quarters of funding available, excluding upcoming deferred payments.
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