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HyTerra Accelerates US Hydrogen Strategy With Significant Lease Acquisitions

By May 29, 2023 2   min read  (358 words)

May 29, 2023 |

hyterra accelerates us hydrogen strategy with significant lease acquisitions

HyTerra Ltd has announced that, in addition to its non-operated interest at Project Geneva in Nebraska with Natural Hydrogen Energy LLC, the company is building a portfolio of 100% owned and operated leases in a region with natural hydrogen occurrences on the Nemaha Ridge in Kansas, USA.

Key Highlights

  • HYT Operating LLC, a wholly owned subsidiary of HyTerra, has secured a 100% working interest in over 7,500 acres of lease holdings on the Nemaha Ridge in Kansas, USA.
  • The Nemaha Ridge is a promising area for natural hydrogen with a history of at least 10 natural hydrogen occurrences (up to 92% H2) within proximity to industries, infrastructure, and end-users.
  • A focused exploration program in 2023 to rapidly mature a portfolio of prospects includes geophysical survey, independent resource assessment, and well design and permitting.

HyTerra Accelerates US Hydrogen Strategy With Significant Lease Acquisitions1

HyTerra has acquired a 100% working interest in lease holdings spanning 7,586 acres on the Nemaha Ridge in Riley, Geary, and Morris counties. The Nemaha Ridge leases, owned by HyTerra’s wholly-owned subsidiary HYT Operating LLC, grant the Company exclusive exploration and exploitation rights for minerals, oil, gases, and notably hydrogen and helium, without any mandatory work commitments. HyTerra is committed to further expanding its lease holdings throughout 2023.

Alice Krekt, director of NLHydrogen, commented, “Together, we are leading the way in the transition to a CO2-free society. With the help of knowledge building and sharing, a powerful network and sustainable solutions, we ensure that our members are and remain frontrunners.”

To support the execution of this program, the Company intends to undertake a placement of up to A$2.5 million. Funds raised will be equally applied to Nemaha Ridge and Project Geneva, ensuring both projects have sufficient financial backing for their advancement over the next 12 months.

About HyTerra Ltd:

HyTerra is the first ASX listed company with a focus on pioneering the exploration and production of natural hydrogen. HyTerra 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.

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