HyTerra Ltd., a pioneer in natural hydrogen, is pleased to announce an operational update on its 100% owned and operated leases in a region supported by natural hydrogen occurrences on the Nemaha Ridge in Kansas, USA.
Key Highlights:
- Xcalibur has successfully conducted an airborne gravity and magnetic geophysical survey over the Company’s Nemaha Ridge leases and the surrounding area.
- The operation was carried out safely and efficiently, with vital data ready for interpretation in July.
- The interpreted data will help refine leads and prospects within the emerging play fairway on the Nemaha Ridge and support an upcoming independent resource assessment.
- The completion of this survey is a significant milestone as the Company continues to progress to permitted well sites.
Xcalibur MPH Canada Ltd, a global leader in its field, was recently commissioned by HYT Operating LLC (HyTerra’s wholly owned US subsidiary) to undertake an airborne gravity gradiometer and magnetic survey. Xcalibur has recently completed projects for natural hydrogen explorers in Australia and the USA. The survey area focused on HyTerra’s Nemaha Ridge leases and the surrounding area.
The data acquisition phase has now concluded, and the processed data will be delivered to the Company within six weeks. The resulting subsurface imaging will further calibrate HyTerra’s geological model to mature leads and prospects within the emerging hydrogen play fairway supported by numerous natural hydrogen occurrences (based on published wellbore gas analysis).
The Company will begin an independent resource assessment in Q3, 2023, by engaging with advisory firms and consultants.
HyTerra is closely monitoring significant developments at the U.S. Department of Energy following its release of the Clean Hydrogen Strategy and Roadmap, focusing on three key strategies:
- Targeting strategic, high impact uses to ensure utilization in the highest benefit applications.
- Reducing cost by catalyzing innovation and scale and stimulating private sector investments.
- Focusing on regional networks with large-scale production and end-use in close proximity.
These points align with the key messages in HyTerra’s recent Investor Presentation (29 May 2023). HyTerra also welcomes the consideration of the carbon intensity of the production pathway (well-to-gate emissions) for a range of production tax credits of up to US$3/kg for eligible hydrogen sources.
About HyTerra Ltd
HyTerra Ltd is the first ASX-listed company focusing on pioneering the exploration and production of natural hydrogen. It has an earn-in interest in a Joint Development with Natural Hydrogen Energy LLC, which includes the world’s first wildcat well targeting natural hydrogen in Nebraska, USA. HyTerra also holds 100% owned and operated leases on the Nemaha Ridge, Kansas, USA.
For further information, please visit the Company’s website at www.hyterra.com.
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