Highlights

  • Prominence Energy secured firm commitments to raise AUD 1.56 million via a Placement.
  • Funds are earmarked to advance the Gawler Helium and Hydrogen Project, including licensing and geophysics work.
  • Placement includes over 709 million shares at AUD 0.0022 per share with free-attaching Options.
  • Directors committed AUD 60,000 to the raising, subject to Shareholder approval.

Prominence Energy Ltd (ASX:PRM) shares remained unchanged at AUD 0.0030 during the afternoon session on 1 May 2026, with today’s move coinciding with the release of a Capital raising update. The company announced that it has secured firm commitments to raise AUD 1.56 million before costs, providing additional funding to support project development and ongoing operations.

Prominence Energy is an ASX-listed energy company headquartered in Perth, focused on identifying early-stage opportunities across oil and gas, helium, and emerging energy segments such as hydrogen. The company’s strategy centres on securing Assets at an early stage with the aim of building value through exploration and technical advancement. Alongside conventional energy exposure, Prominence is also engaged in opportunities linked to natural hydrogen and helium, both of which are gaining increasing attention due to their potential role in future energy systems and industrial applications.

Capital Raising Strengthens Funding Position

The company confirmed that it has received firm commitments from a mix of existing shareholders and new sophisticated and professional investors to raise a total of AUD 1,560,000 before costs. This funding is being completed through a Placement structure involving the issue of new fully paid ordinary shares.

A total of 709,090,908 Placement shares will be issued at a price of AUD 0.0022 per share. This pricing reflects a discount of 26.67% to the last traded price of AUD 0.003 and a 23.52% discount to the 15-day Volume weighted average price of AUD 0.00288. The Placement also includes an incentive component, with investors receiving one free-attaching unlisted option for every three shares subscribed. This results in 236,363,636 Placement Options being issued.

Each option carries an exercise price of AUD 0.004 and will remain valid for three years from the Date of Issue. This structure is designed to provide additional potential upside for investors while supporting the company’s Capital position.

Two-Tranche Structure and Shareholder Approval

The Capital raising will be executed in two separate tranches. The first Tranche involves the issuance of 424,169,096 shares under the company’s existing Placement capacity, in accordance with ASX Listing Rules 7.1 and 7.1A.

The second Tranche will include the remaining 284,921,812 shares along with the associated free-attaching Options. This Tranche is subject to Shareholder approval at an upcoming general meeting. Director participation is also included in this Tranche and will require the same approval process.

Subject to this approval, directors have committed to subscribe for AUD 60,000 worth of shares, equating to 27,272,727 Placement shares. This participation aligns directors with the Capital raising and reflects their involvement in the funding initiative.

Use of Funds Targets Key Project Milestones

The proceeds from the Capital raising are intended to support several key areas of activity for Prominence Energy. A primary focus is the advancement of the Gawler Helium and Hydrogen Project, which remains central to the company’s strategy.

Funding will be directed toward progressing the grant of key licences associated with the project. In addition, the company plans to undertake on-ground technical activities, including advanced Geophysical surveys and further work to define leads and prospects within the project area.

Beyond the Gawler project, a portion of the funds will be allocated toward the continued evaluation of the company’s existing asset base. General working Capital requirements will also be supported through the raising, providing flexibility for ongoing operations.

Lead Manager and Fee Structure

GBA Capital Pty Ltd has been appointed as the lead manager for the Capital raising. In connection with this role, the company will receive a fee equivalent to 6% of the total funds raised.

Additionally, subject to Shareholder approval, GBA Capital will be issued lead manager Options equal to 10% of the number of Placement shares issued. These Options will be on the same terms as the Placement Options, including the exercise price and expiry period.

Management Commentary on Funding Support

Prominence Energy’s Chief Operating Officer, Dr Krista Davies, commented on the outcome of the Capital raising, noting that the company received support from both existing and new investors.

She indicated that the level of Demand reflects confidence in the company’s strategic direction and asset portfolio. According to the company, the funds are expected to support ongoing technical workstreams at the Gawler Helium and Hydrogen Project, as well as progress associated licence approvals and broader portfolio evaluation.

Project Focus: Helium and Natural Hydrogen

The Gawler Helium and Hydrogen Project represents a key component of Prominence Energy’s current activities. The project is focused on exploring and defining potential resources associated with helium and natural hydrogen.

Natural hydrogen, sometimes referred to as white or geologic hydrogen, is generated through natural processes within the Earth and can accumulate underground. It can be identified using relatively low-cost and non-invasive exploration techniques. When utilised as a fuel, it produces only water vapour, positioning it as a zero-carbon energy source.

Helium, on the other hand, is a non-renewable noble gas formed through the radioactive decay of elements such as uranium and thorium in ancient rock formations. It plays a critical role in various industries, including medical imaging, semiconductor Manufacturing, space exploration, and cryogenics. The global Supply of helium has faced constraints, contributing to its importance as a resource.

What This Means for Investors?

The latest update from Prominence Energy highlights an improvement in the company’s funding position through the successful securing of AUD 1.56 million in commitments. The Capital raising provides financial support for advancing key project activities, particularly within the Gawler Helium and Hydrogen Project.

While the share price remained unchanged during the session, the update outlines the company’s planned allocation of funds toward licensing, technical work, and asset evaluation. The inclusion of Options and director participation also forms part of the broader structure of the raising.

Investors are likely to monitor progress on project-related milestones, including licensing developments and exploration outcomes, as well as the completion of the second Tranche subject to Shareholder approval.