Highlights

  • Gold Hydrogen completed Phase 1 of the Ramsay 3 interim flow test in South Australia.
  • Phase 1 recovered more than 25,000 barrels of fluid, with rates reaching up to 13,000 barrels per day.
  • Phase 2 is testing shallower reservoir sections and gathering further deliverability and helium concentration data.
  • The company plans to combine both phases before providing a fuller market update.
  • A contingent resource assessment is pending completion of both test phases.

Gold Hydrogen Limited (ASX:GHY) is an Australian explorer focused on naturally occurring hydrogen and helium, with its Ramsay Project on the Yorke Peninsula in South Australia central to its current activities. The company has completed the first phase of interim flow testing at Ramsay 3 and moved into a second phase to collect additional reservoir and helium data.

Phase 1 Establishes Initial Flow-Test Data

Phase 1 ran from 10 September 2026 to 30 September 2026 and targeted the lower Kulpara Dolomite helium reservoir. An electrical submersible pump was positioned at about 730 metres, while the well was perforated between 500 metres and 800 metres. Gold Hydrogen reported a gross target-zone thickness of about 180 metres.

During the test, fluid flowed at rates of up to 13,000 barrels per day and more than 25,000 barrels was recovered. The company estimated a productivity index of around 40 barrels per day per psi. Gas samples were collected, but the 6 October 2026 update did not disclose a helium concentration for Ramsay 3.

Phase 2 Targets Shallower Reservoir Sections

For Phase 2, Gold Hydrogen repositioned the pump into shallower reservoir sections. The company said the pump has capacity of 20,000 barrels per day and anticipates flow rates of up to that level. These figures refer to fluid flow and do not represent confirmed helium production.

The second phase is intended to gather more information on reservoir deliverability, helium concentration, dynamic pressure and flow behaviour. The announcement did not specify a completion date, so the timing of the integrated update remains dependent on testing and analysis.

Ramsay 3 Within the 2026 Exploration Program

Gold Hydrogen holds a 100 per cent working interest in its wells within petroleum exploration licence PEL 687. The 2026 update also referred to Ramsay 1 and Ramsay 2 testing that recorded sustained air-corrected helium concentrations of around 19 to 20 per cent. Ramsay 3 is intended to add further reservoir and gas-composition data across the project area.

After the helium-focused work at Ramsay 3, Gold Hydrogen intends to evaluate hydrogen-bearing zones at the same wellsite. The company has said a contingent resource assessment is pending completion of both phases of the current testing program.

Key Insights

The Ramsay 3 update shows Gold Hydrogen moving from initial fluid-flow testing into a second phase intended to broaden the technical dataset. Reported flow rates relate to total fluid rather than commercial helium output, and the Ramsay 3 helium concentration has not yet been published. The combined interpretation of both phases is expected to inform the technical basis for any subsequent resource assessment or further project work.