Key Highlights

  • Gold Hydrogen completed helium flow testing across all three Ramsay wells in under three months.
  • Sustained helium concentrations average about 15.2% across the project.
  • Modelling points to up to about 37 Mscf per day per well, compared with 27 Mscf per day in an independent Worley assessment.
  • The company is targeting a maiden Contingent Resource sign-off in November 2026, while natural hydrogen results remain pending.

Gold Hydrogen Limited (ASX:GHY) reported on 20 October 2026 that it has completed helium flow testing across all three wells at its Ramsay Project, with results the company says confirm a connected helium-bearing reservoir. Natural hydrogen flow-test results from the same project are still being interpreted.

Flow test campaign

The three-well campaign was finished in under three months, with no lost-time injuries or health and safety incidents reported. Helium was flowed to surface, then purified and bottled on site, which the company said was the first helium bottled in Australia since the Darwin plant closed in late 2023. Pumping rates were scaled sevenfold to about 14,000 barrels per day at Ramsay 3, the highest rate achieved at the project so far.

Reservoir and concentration findings

The company interprets the results as showing a large, connected helium-bearing Kulpara Dolomite reservoir across three wells spanning about 2.2 km. Sustained, air-corrected helium concentrations average about 15.2% across the project. The release contrasts this with global commercial helium projects that can operate at concentrations as low as 1% where helium is produced as a by-product.

Comparison with the Worley assessment

Project-wide modelling indicates helium gas rate potential of up to about 37 Mscf per day per well. That compares with about 27 Mscf per day per well in an independent assessment by Worley, which identified that rate as potentially commercially viable. The figure is around 37% higher. The company said the results support further evaluation of a commercial development using as few as two wells, consistent with the Worley development case, subject to resource certification and engineering, commercial and economic work.

Pilot planning and resource timing

Gold Hydrogen is accelerating planning for a staged, modular helium pilot designed to use existing Ramsay wells, a design it says could reduce upfront capital and shorten the path to initial production. The company is targeting a maiden Contingent Resource sign-off in November 2026. The release also notes that Australia has no domestic helium production and imports all of the helium it consumes, and that reported long-term contract prices have risen above US$600 per Mcf on an all-in plant-gate basis.

Natural hydrogen results

Flow testing of natural hydrogen in the Parara Limestone at Ramsay has been completed, but the results are still being interpreted. The company will provide an update once an internal review is finished and laboratory data has been received and analysed. No hydrogen flow rates or concentrations were reported in this announcement.

Ramsay 3 well details

Ramsay 3 is the purpose-designed, larger-diameter scale-up well at the project, which is located in licence PEL 687 on the Yorke Peninsula in South Australia. Its 7-inch cased and perforated completion provides about 2.3 times the cross-sectional area of the Ramsay 1 and Ramsay 2 wells. In the second test phase, gross fluid rates were increased in stages to about 14,000 barrels per day, with an implied drawdown of about 350 psi and a productivity index of about 40 barrels per day per psi. An air-corrected helium concentration of up to 12.6% was recorded at Ramsay 3, while the earlier wells recorded 19% and 20%, and the figures are described as preliminary field measurements that remain subject to independent laboratory confirmation.

Summary of the update

The announcement reports finished helium testing across three wells, an average concentration of about 15.2%, modelled rates above the Worley benchmark and a planned November resource sign-off, while hydrogen results and any commercial decision remain outstanding.