ADELAIDE: Thor Energy plc announced Monday that its subsidiary, Go Exploration Pty Ltd, has accepted an offer from the South Australian Department for Energy and Mining for three Gas Storage Exploration Licenses (GSELs 804, 805 and 806).
The licenses, strategically located near Adelaide, provide exclusive rights to explore underground gas storage potential across more than 6,300 square kilometers. The move aligns with Thor Energy’s strategy to expand energy resource development in key Australian regions.
The offer follows Go Exploration’s application on Aug. 23, 2024. Under the Energy Resources Act 2000, the licenses take effect upon execution of the documents, with the offer valid for 14 days from June 12, 2025. The initial term expires July 1, 2025, but the company plans to renew for an additional five years, extending its assessment period until mid-2030.
“This is a significant step in exploring energy solutions to support Australia’s energy security and transition,” said Managing Director Andrew Hume. The licenses complement Thor’s existing natural hydrogen exploration portfolio in South Australia.
The company will work with state officials and local stakeholders to advance exploration programs.
Thor Energy (AIM: THR, ASX: THR, OTCQB: THORF) is a diversified energy company focused on mineral and energy projects in Australia and the U.S.