Gold Hydrogen Secures $6.45M Tax Refund, Unveils New Chief Geologist and 2025 Drilling Plans

Financial Boost and Strategic Positioning

Gold Hydrogen Limited (ASX: GHY) has announced a significant financial uplift with the receipt of a $6.45 million research and development tax refund related to its pioneering Natural Hydrogen and Helium exploration efforts for the fiscal year ended 30 June 2024. This refund, combined with existing cash reserves of approximately $7 million, positions the company strongly as it finalises plans for its 2025 work program.

The infusion of capital comes at a critical juncture as Gold Hydrogen prepares to advance its exploration activities in South Australia, a region increasingly recognised for its potential in natural gas resources beyond traditional hydrocarbons.

Leadership Changes Signal Technical Focus

In a move underscoring its commitment to technical excellence, Gold Hydrogen has appointed Peter Bubendorfer as Chief Geologist. Mr. Bubendorfer brings over three decades of experience in oil and gas exploration across Australia, with a particular focus on natural gas and coal seam gas, areas closely aligned with Gold Hydrogen’s focus on Natural Hydrogen and Helium.

His track record includes foundational roles in exploration programs that led to significant corporate takeovers, and his expertise spans seismic interpretation, geochemical and geophysical data analysis, and regulatory liaison. This appointment is expected to enhance the company’s geological assessment capabilities as it moves into a critical phase of drilling and data acquisition.

Meanwhile, Chief Operating Officer Josh Whitcombe has departed to pursue other industry opportunities. Executive Director Roger Cressey will step in as interim COO, ensuring continuity in operational leadership during this pivotal period.

2025 Work Program: Drilling and Seismic Surveys

Gold Hydrogen’s 2025 exploration strategy is anchored by a planned drilling campaign targeting the Ramsay Natural Hydrogen and Helium accumulation. The campaign will involve multiple wells designed with enhanced flexibility to appraise specific target zones identified through recent data integration, including the Ramsay 2D seismic survey completed in the third quarter of 2024.

These wells aim to delineate the resource and inform the design of a pilot project to demonstrate commercial production potential. The 2D seismic data has already highlighted several promising drill locations up-dip from previous wells, as well as new prospects for future exploration.

Complementing the drilling program, the company is preparing for an extensive 3D seismic survey over the Ramsay Project area. This survey will provide detailed insights into subsurface structures and stratigraphy, facilitating more accurate resource assessments and optimising future drilling efforts.

Expanding Footprint and Stakeholder Engagement

Gold Hydrogen’s portfolio now covers over 75,000 square kilometres in South Australia, including one granted exploration license (PEL 687) and multiple applications held through its subsidiaries. The company is also the preferred applicant for four gas storage exploration licenses in the Yorke Peninsula region.

Operating in low population density areas with cooperative stakeholders, Gold Hydrogen emphasises strong relationships with landholders and traditional owners, a strategy that has been instrumental in securing key tenements and will continue to underpin its development efforts.

As the company advances its exploration and appraisal activities, the combination of robust financial backing, experienced leadership, and a comprehensive technical program sets the stage for potentially defining a new Natural Hydrogen and Helium province in Australia.