Prominence booms +50% after confirming CY27 drilling pathway for helium portfolio

Prominence Energy (ASX:PRM) has been more than +50% up in Friday trade after outlining its “capital-efficient” pathway toward mid-CY27 helium and hydrogen drilling in South Australia, including upcoming technical milestones.

Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.

Following a first half of CY26 that well-strengthened the case across its acreage – which stretches ~64,000sqkm in South Australia – through soil gas surveys, laboratory analysis, and satellite studies, the company is moving into a phase designed to “convert exploration data into defined leads and prospects.”

“The work completed over the past several months has given us a much stronger understanding of the helium and natural hydrogen potential across our South Australian portfolio,” Prominence CEO Dr Krista Davies said today.

“Over the coming months, we expect to complete [several] important work programs that have the potential to materially improve the definition of our projects, including advanced geophysical interpretation and independent Prospective Resources Reviews across both the Eyre and Northern Hinge Projects.”

“This is a disciplined approach. We are using relatively low-cost work to build the strongest possible technical and commercial case before finalising our 2027 drilling.”

This, Dr Davies explained, should give the company “a clear sequence of potential catalysts” to share with shareholders as Prominence moves from evidence to defined prospects, potential resource estimates, opportunities, and drilling.

The immediate July program will focus on gravity and magnetic data inversion and interpretation. This will combine with existing geological, geochemical, and satellite datasets to identify the most prospective areas. Independent Prospective Resources Reviews are scheduled for all key assets.

The review for the Eyre Project is targeted for the end of August, while the Northern Hinge Project review is expected by the end of September. These assessments aim to evaluate the potential scale of identified opportunities and guide future technical, commercial, and funding decisions, Prominence says.

HotCopper understands that, following the reviews, Prominence plans to update drilling engineering and cost evaluations in October.

PRM has been selling at 0.2cps at Friday lunchtime.

Join the discussion: See what HotCopper users are saying about Prominence Energy Ltd and be part of the conversations that move the markets.

Disclaimer: This article is disseminated in partnership with Kaoko Metals Ltd. It is intended to inform investors and should not be taken as financial advice.

The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.