Thor Energy Advances HY-Range Project with 2D Seismic Survey Planned for Mid-2026

Thor Energy PLC is progressing its HY-Range Project in South Australia, with a 2D seismic survey scheduled for mid-2026 to identify drilling targets. This effort is supported by a Phase-2 Geochemistry survey currently underway.

The company has rationalized its portfolio, receiving A$375,000 from the Molyhil divestment and expecting an additional A$2.25 million in early 2026, along with three annual payments of A$1.3125 million. Thor also completed the divestment of 75% of its US Uranium portfolio, retaining a 25% interest and securing a revenue-sharing agreement with DISA Technologies.

These transactions provide non-dilutive funding for exploration. The seismic survey aims to deliver insights into natural hydrogen and helium systems, enabling successful exploration drilling. Thor's focus remains on its South Australian hydrogen and helium portfolio, including the key HY-Range project and associated gas storage exploration licenses.