Thor Energy awards 464 kilometre seismic contract

• Thor Energy has signed a contract for an onshore 2D seismic acquisition survey at its HY-Range Project.
• Shares in the company fell 10% to $0.009 following the confirmation of the upcoming exploration programme.
• The survey aims to map faulting and identify definitive exploration drilling targets for natural hydrogen and helium.

Thor Energy (ASX:THR) has signed a contract with Velseis for a 464 line-kilometre seismic survey in South Australia.

The announcement follows a Phase-2 geochemistry survey completed earlier this month that recorded natural hydrogen concentrations peaking at 3%.

“With this programme, we are fulfilling part of Thor's fundamental philosophy of bringing the best of both worlds from mineral and hydrocarbon exploration,” said Thor Energy Managing Director Andrew Hume.

The company stated that the survey will occur between Q3 and Q4 2026 to identify future drilling targets.

Following the announcement, the Thor Energy share price was down at $0.009.

Thor stated that the exploration work is fully funded from existing cash reserves following recent non-core asset divestments.

The company previously completed an initial survey in 2025 and received a $2.3 million asset sale payment in January.