Prominence Energy Ltd will acquire Gawler Group Holdings Pty Ltd, securing full interest in South Australia's Gawler Hydrogen Project. The acquisition includes nine exploration licences covering hydrogen and helium prospects. PRM plans swift exploration, backed by incoming leadership, to capitalize on South Australia's emerging natural hydrogen potential.
Prominence Energy Ltd has announced that it has signed a binding agreement to acquire Gawler Group Holdings Pty Ltd, securing full ownership of nine petroleum exploration licence applications (PELAs) that constitute the Gawler Hydrogen Project in South Australia. This strategic acquisition grants Prominence Energy a 100% interest in both the Northern Hinge Project and the Eyre Project.
According to PRM Chairman Ian McCubbing, the acquisition places the company and its shareholders at the forefront of the fast-growing natural hydrogen sector. With increasing investments by global energy players and private equity firms in hydrogen exploration, the deal offers significant leverage to Prominence both through organic growth and external developments in the hydrogen space. McCubbing emphasized the company鈥檚 intent to commence exploration swiftly following the transaction鈥檚 completion.
The Gawler Hydrogen Project is located on the Gawler Craton, an emerging hub for hydrogen exploration in onshore South Australia. The project鈥檚 extensive and diversified exploration portfolio targets multiple play types with promising hydrogen and helium source systems. The advancement of licensing across the Gawler Hydrogen Project has progressed well, with the first 鈥榦ffer-to-grant鈥� expected by Q3 2025. This will enable PRM to initiate targeted exploration efforts to mature prospects in preparation for future drilling.
The Eyre Project includes four PELAs鈥擯ELA 803, 749, 750, and 751鈥攕panning approximately 29,126 square kilometres. Positioned over the Gawler Craton鈥檚 Archean crust, the project is considered highly prospective for natural hydrogen, helium, and related gases. The presence of radiogenic Hiltaba granites and uranium-rich areas provides strong indicators for hydrogen and helium generation. Additionally, regional magnetotelluric data has revealed a significant conductivity anomaly, potentially signaling a crustal-scale mantle plume that may facilitate the upward migration of primordial hydrogen.
The Northern Hinge Project, consisting of five PELAs鈥擯ELA 566, 581, 748, 752, and 753鈥攃overs around 34,133 square kilometres. Situated along the northern boundary of the Adelaide Hinge Zone, this area borders the Gawler Craton and is marked by favorable geochemical and radiogenic features. These geological conditions suggest excellent potential for natural hydrogen and helium generation and migration.
Upon completion of the acquisition, Prominence Energy will implement changes to its Board and appoint a new Chief Operating Officer and Technical Advisor. These leadership additions will bolster the company鈥檚 capabilities as it advances its strategic objectives and initiates its inaugural exploration programs across both the Eyre and Northern Hinge Projects. The incoming team鈥檚 experience will also strengthen PRM鈥檚 broader portfolio, including its interests in the Big Apple Prospect.
