Noble Helium to acquire Earth Source Hydrogen and expand WA exploration portfolio

Detailed summary

Noble Helium Ltd (ASX:NHE, OTC:NBHEF, FRA:GN1) has entered into a binding agreement to acquire Earth Source Hydrogen Limited (ESH), giving the company access to around 40,000…

Noble Helium Ltd (ASX:NHE, OTC:NBHEF, FRA:GN1) has entered into a binding agreement to acquire Earth Source Hydrogen Limited (ESH), giving the company access to around 40,000 square kilometres of helium-prospective acreage in Western Australia’s Southern Carnarvon Basin.

The acquisition covers 100% of ESH’s issued share capital, including its Australian subsidiaries and two existing Special Prospecting Authorities (SPAs), SPA-47 AO and SPA-44 AO.

The licences provide ESH with the exclusive right to apply for exploration licences over the respective areas.

ESH is also in the process of applying for a third SPA. Its 2 existing authorities are adjacent to EP512 and together cover about 40,000 square kilometres.

Consequently, the acquisition would broaden its exploration portfolio beyond its existing operations in Tanzania, where drilling preparations are underway at Kinambo.

“The combined helium exploration portfolio of Noble Helium and ESH is compelling.

ESH gives us exposure to a large and highly prospective helium exploration acreage in Western Australia that complements our existing Tanzania project where drilling preparations are underway at Kinambo,” Donald said.

ESH has completed an extensive water borehole sampling and testing program across both SPAs.

Noble Helium plans to undertake detailed independent analysis and evaluation of the samples, with a summary of results to be released following completion of the acquisition and assessment work.

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