The following update is for the activities of 2H Resources, a wholly owned subsidiary of Buru
Energy Limited (Buru).
Considerable progress is also being made on Buru's other Energy Transition activities:
Geovault - Carbon Capture and Underground Storage ("CCUS"), and Battmin - Battery minerals exploration in the Kimberley. Updates on these growth opportunities will be provided as they are advanced.
2H Resources is a leading explorer for Natural Hydrogen and associated Helium.
Natural hydrogen is produced from underground accumulations in the earth and not manufactured, so it has the potential for supply of low cost and low carbon intensity hydrogen.
2H Resources current activity
2H Resources initial focus is in South Australia where it has recently been granted over 29,000 sq km of permits that are on geological trend with legacy natural hydrogen discoveries (noting that Buru’s tenements in the Canning Basin cover a gross 22,000 sq kms).
2H Resources plans to undertake on ground initial prospecting work on these South Australian permits using in-house capabilities and technology, including hydrogen measuring equipment, once appropriate approvals are in place.
Regional and development work:
2H has developed internal geological expertise in the search for natural hydrogen, and is engaging with globally recognized specialists and consultants.
We are assessing opportunities both onshore Australia and globally, and this may lead in due course to the establishment of activity in international jurisdictions that have established a regulatory framework for the exploration and production of natural hydrogen. 2H Resources is also in discussions with potential partners to further expand its activities and technical capabilities.
Current drilling activity:
In addition to routine mudlog hydrocarbon gas detection and logging on current Canning Basin wells, a specialized hydrogen mudgas detection unit has been installed to monitor hydrogen and helium. This unit measured a zone of up to 6% hydrogen percentage in mudgas over an interval of approximately six metres in the Currajong 1 well. It has also detected intervals with up to 4.9% hydrogen in the currently drilling Rafael 1 well.
The significance of these hydrogen indications needs to be further evaluated, but together with a number of legacy wells that encountered hydrogen, they demonstrate the widespread occurrence of natural hydrogen in the Canning Basin.
This ASX announcement has been authorized for release by Eric Streitberg, the Executive Chairman of Buru Energy.