Key Highlights:
- Completion of Ramsay 2 Well:
On 1 December 2023, Ramsay 2 reached its final Total Depth (TD) of 1068mMD. Logging operations were successfully completed, and casing was securely cemented in place.
- Very High Hydrogen Concentrations up to 86%:
Analysis of mudgas samples and calibrated real-time mudgas log data reveals air-corrected hydrogen concentrations reaching up to 86% in the Parara and Kulpara formations, validating historic results from Ramsay Oil Bore 1 (1931). Significant hydrogen levels were also found in fractured granitic basement, aligning with pre-drill prospective resource assessment.
- World-Class Helium Concentrations of 6.8% raw gas:
Drilling results from MDT samples revealed helium concentrations up to 6.8% in raw gas from the Kulpara Formation, potentially positioning the Ramsay Project as a world-class helium source.
- Robust Testing Protocols:
Schlumberger (now SLB) conducted the tests, with independent validation by a specialized third-party laboratory, ensuring credibility of results.
- Comprehensive Analysis:
During drilling, testing equipment detected hydrogen and helium in mudgas, with analysis confirming the presence of hydrogen in multiple target zones.
- Exploration Potential:
The data points throughout the drilling campaign indicate a potentially extensive hydrogen reservoir and a prolific helium system at the Ramsay project site.
Gold Hydrogen’s Managing Director, Neil McDonald: “The hydrogen and helium results from Ramsay 2 are groundbreaking and affirm the global significance of the Ramsay project.
Additional Notes:
- The results are based on proven testing methodologies and standards but require further exploration, analysis, and future flow testing. The Ramsay Project shows potential to become a world-class natural hydrogen and helium development.
Ramsay 2 Exploration Well Results:
- Drilling commenced on 17 November 2023 and was completed on 1 December 2023. The well was left fully cased and suspended for potential production testing.
- Real-time mud gas data recorded high concentrations of hydrogen and helium, with analysis confirming these levels. The fractured basement showed significant hydrogen and helium concentrations, validating the model of these elements sourced from the basement.
- The initial results position the project for significant advancements in the energy sector, with plans for continued exploration and development.
In response to the hydrogen and helium findings at Ramsay 2, Gold Hydrogen’s Managing Director, Neil McDonald said:
“These hydrogen and helium results from Ramsay 2 are truly world-class and groundbreaking. The drilling of Ramsay 2 and the collection of extensive data during this program has enabled the company to not only confirm and validate the historical results but also identify multiple target zones for both hydrogen and helium. These findings further affirm the global significance of the Ramsay project.”
The results noted above, although from proven and respected testing methodologies and standards, are samples only and will be advanced with further exploration, analysis and future flow testing. Although Gold Hydrogen is early in its exploration program, they support the view of the Company that the Ramsay Project has the potential to become a world-class natural hydrogen and helium development.
Further to previous market releases regarding its flagship Ramsay Natural Hydrogen Project, the Directors of Gold Hydrogen Limited (Gold Hydrogen, ASX: GHY, the Company) are pleased to provide an update on the Ramsay 2 exploration well results.
Drilling at Ramsay 2 commenced on 17 November 2023, and was completed at a total depth of 1068m with all well activities finalized on 1 December 2023. The well was left fully cased and suspended to facilitate potential production testing.
Mud gas data was recorded, in real-time during the drilling of Ramsay 2, with mud gas samples collected at regular intervals in isotubes. The analysis of the mud gas samples from isotubes reveals their content is closely aligned with the real-time mud gas log readings, allowing for the quantitative use of the real-time mud gas log data for hydrogen concentration measurements. The mud gas log data confirms very high concentrations of hydrogen through the Parara Limestones and the Kulpara Formation at air-corrected levels of up to 86%, with the highest hydrogen level measured from a zone between 194 and 199mMD (see Table 2 and Figure 1). These hydrogen levels align with the measurement taken at shallow depths while drilling the historic Ramsay Oil Bore 1 in 1931 that confirmed air-corrected hydrogen levels of 76% at 240.8m and then the Ramsay 1 well drilled in October 2023 which recorded an air-corrected hydrogen level of 73% at 240m. In addition, high hydrogen levels were found in Ramsay 2 in zones around 288mMD and 531mMD, which align closely with the historic Ramsay Oil Bore 1 well, where hydrogen was recorded at 262m and 508m. See the summary of initial testing results for hydrogen below in Table 2.
As previously reported, the real-time mud gas analysis also recorded the presence of high helium concentrations within the mud gas the Kulpara and Wilnulta Formations (see Figure 1). Further to this, two MDT samples recovered from 778mMD at the base of the Kulpara Formation were found to contain 6.8% and 6.1% helium as part of the raw gas composition. The laboratory also advised the Company of air-corrected values of 17.5% and 15.9% helium for these samples by mathematically subtracting assumed air contamination due to the presence of oxygen in the sample. Given the depth of these sample results, the Company considers that the presence of oxygen and nitrogen is likely to originate from the formation. Further testing and analysis will confirm this for both Ramsay 1 and Ramsay 2.
While drilling the basement, the real-time mud gas logging tool recorded high hydrogen and helium values within a zone associated with a large open fracture (see Figure 1). Analysis of gas captured in isotubes and isojars from the basement confirm the high levels of hydrogen as measured in the mud gas. This validates the model that the hydrogen and helium are likely sourced from the basement and that the fractured basement still contains significant concentrations of hydrogen and associated helium in the open fractures.
Gold Hydrogen Managing Director, Neil McDonald further said:
These results from Ramsay 1 and Ramsay 2 demonstrate that the reported historic hydrogen measurements can be replicated at multiple drill sites with modern drilling technology. They prove there are laterally extensive hydrogen and helium plays present at the location of the Ramsay Project, both in the shallow reservoirs and in the fractured basement in line with the predrill prospective resource assessment. Flow testing of the Ramsay 1 and Ramsay 2 wells will be required to establish the flow rates of both the hydrogen and the helium from the various zones.
Gold Hydrogen Managing Director, Neil McDonald further said: “These initial results from our two wells are world-class. While it’s early days, these results position us on the path to achieving Australia’s first-ever natural hydrogen and helium project. We are eager to continue our exploration, driven by the potential for significant advancements in the energy sector.”
About Gold Hydrogen
Gold Hydrogen is focused on the discovery and development of world class natural hydrogen gas in a potentially extensive natural hydrogen province in South Australia. This region has only recently had its natural hydrogen potential identified by the Company. The domestic and global demand for hydrogen, combined with new natural hydrogen exploration techniques and experienced personnel, provides Gold Hydrogen with an extraordinary opportunity to define and ultimately develop a new natural hydrogen gas province. The combined natural hydrogen permit area of the Gold Hydrogen group is approximately 75,332km2 . Gold Hydrogen holds one granted petroleum exploration license (the Ramsay Project – PEL 687) and its two 100% owned subsidiary companies (White Hydrogen Australia and Byrock Resources) hold an additional seven (7) applications for natural hydrogen exploration within South Australia.
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