Thor Energy
THR · AIM · Basic Resources · mcap £5.4m · 0.5p 1 open situation →
- EV
- £3.6m
- EV / EBIT
- –
- Net cash
- £1.5m
- FCF yield
- -19.4%
- Revenue
- –
- Share price 1y
- −32%
- Insiders 12m
- no deals
- Next report
- around 15 Mar
Timeline · every situation
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Project milestones
HY-Range hydrogen and helium exploration
Letter of Award signed; seismic expected Q4 2026
HY-Range (RSEL 802) had strong Phase 1 geochemistry in 2025, and Phase 2 reported hydrogen up to 3% (30,000ppm), validating Mallala, Lochiel and Crystal. Thor signed a Letter of Award with Velseis on 24 Jun 2026 for about 464 line-km of 2D seismic. The FY26 report (30 Sep 2026) puts the start in Q4 2026, a narrower window than the earlier Q3-Q4, and says maiden drill decision is in sight.
- Contractor
- Velseis Pty Ltd; Letter of Award signed 24 June 2026 30 Sep 2026 ↗
- Size
- Approximately 464 line-kilometres of 2D seismic across RSEL 802 29 Jul 2026 ↗
- Timing
- Surveys expected to begin in Q4 2026 30 Sep 2026 ↗
- Phase-2 result
- Hydrogen up to 3% (30,000ppm), about 60,000 times background; three focus areas validated 29 Jul 2026 ↗
- Next milestone
- Define maiden drill targets after seismic; Thor owns 80.2% 30 Sep 2026 ↗
- Seismic size
- Approximately 464 line-km of 2D seismic across RSEL 802 30 Sep 2026 ↗
Next: Full Velseis contract; start of 2D seismic survey
- 30 Sep 2026 Licensed; deployment awaited
- 29 Jul 2026 Letter of Award signed; full contract pending
- 24 Jun 2026 Seismic contractor awarded; permitting under way
- 29 Apr 2026 Phase 2 sampling done; results and seismic tender pending
Closed · 1
Company filings. Not investment advice.