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Prominence Energy Limited ( (AU:PRM) ) has issued an announcement.
Prominence Energy Limited has extended its agreement with Gawler Group Holdings to acquire a 100% interest in the Gawler Hydrogen Project in South Australia, extending the deadline to December 2025. This extension allows for the completion of regulatory processes, following the recent award of Petroleum Exploration Licence 803 to a Gawler subsidiary, which is crucial for advancing natural hydrogen exploration. The project is expected to position South Australia as a leader in the emerging natural hydrogen industry, enhancing PRM’s strategic positioning in green energy.
More about Prominence Energy Limited
Prominence Energy Limited is an Australian Securities Exchange (ASX:PRM) listed energy company based in Perth. The company focuses on high return on investment opportunities, particularly in the early stages of development. PRM is involved in conventional oil and gas projects and is exploring potential investments in helium, green energy, and specifically green hydrogen. Key projects include a 100% interest in the Big Apple Prospect in the Gulf of Mexico and interests in Umine and ECOSSAUS Ltd, which is pioneering the use of solution-mined salt caverns for energy reserves.
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$3.11M
See more insights into PRM stock on TipRanks’ Stock Analysis page.