Gold Hydrogen completes appraisal flow testing of onshore wells

• Gold Hydrogen finished Phase 2 helium flow testing at the Ramsay 3 well, achieving a gross fluid rate of up to 14,000 barrels per day with air-corrected helium concentrations reaching up to 12.6%.
• Following the operational update, the company share price closed down 4.17% at $0.46.
• The company stated that the results support further evaluation of a commercial helium development using as few as two wells.

Gold Hydrogen (ASX:GHY) completed Phase 2 appraisal flow testing at the Ramsay 3 well within its onshore Ramsay Project in South Australia, recording gross fluid rates of up to 14,000 barrels per day.

The latest phase of testing followed the Ramsay 3 Phase 1 programme conducted last month, which delivered gross fluid rates of up to 13,000 barrels per day using an electrical submersible pump.

"Completing our appraisal flow testing across all three Ramsay wells is a major milestone for us, and the results provide compelling evidence of the scale, continuity and productivity of the helium-bearing reservoir," said Gold Hydrogen managing director Neil McDonald.

The company stated that project-wide sustained air-corrected helium concentrations averaged approximately 15.2% across three wells spanning approximately 2.2km.

Following the announcement, the Gold Hydrogen share price was down at $0.46.

The Ramsay Project is located along South Australia’s Yorke Peninsula and focuses on exploring natural hydrogen and helium resources.

The company is now accelerating plans for a staged modular helium pilot to leverage existing wells and reduce upfront capital requirements.