Prominence Energy Appoints Darren Olsen as Chief Financial Officer

Prominence Energy Appoints Darren Olsen as Chief Financial Officer to Support South Australian Exploration Strategy

Prominence Energy (ASX: PRM) has appointed Mr Darren Olsen as part-time Chief Financial Officer, effective 30 July 2026, as the Perth-based energy explorer builds out its corporate governance and financial management functions ahead of continued work on its South Australian helium, natural hydrogen, and associated natural gas portfolio. This appointment of Prominence Energy's Darren Olsen as Chief Financial Officer marks a considered step forward in the company's corporate development.

According to the announcement, Olsen brings more than 25 years of experience across the accounting industry, with a background spanning tax accounting, business planning, and corporate finance. He holds Certified Practising Accountant (CPA) accreditation and has, according to the company, built a track record advising businesses at varying stages of growth.

Key Terms of the Appointment

Prominence Energy has structured the CFO role on a part-time basis, an arrangement the company describes as consistent with its current stage of development. The key contractual terms are outlined below.

The part-time structure reflects a cost-conscious approach to expanding the leadership team, an arrangement often adopted by early-stage ASX-listed explorers seeking to preserve cash while strengthening internal capability.

"We are delighted to welcome Darren to PRM. Darren has extensive expertise in financial management and small company statutory and management accounting. Darren's expertise will be instrumental as we continue to strengthen our financial position and drive long term value for our shareholders in this next stage of PRM's journey."

— Ian McCubbing, Chairman, Prominence Energy

What Does the Appointment Signal for the Company's Next Stage?

A CFO appointment may appear administrative on its surface, but it carries relevance for investors tracking an early-stage explorer's development. Having a credentialled financial professional in place, even part-time, supports several functions that typically become more important as a company advances toward active exploration and potential capital deployment.

• Financial reporting and statutory compliance: Managing ASX obligations and regulatory filings with precision.
• Cash management and budgeting: Providing oversight of the company's financial position as it funds exploration activities.
• Investor communications: Supporting the quality and clarity of financial disclosures to the market.
• Corporate finance readiness: Positioning the company to respond efficiently to any future capital raising or corporate activity.

Furthermore, the incentive structure attached to the role, comprising 20 million options at an exercise price of $0.004, is designed to align Olsen's interests with those of shareholders. Should exploration progress translate into share price appreciation over time, the incentive package rewards outcomes consistent with broader investor returns.

How Do Unlisted Options Work as an Incentive Tool?

For investors less familiar with remuneration structures common among ASX small-cap companies, it is useful to understand how option-based incentives function and why they are widely used.

What Are Unlisted Options?

Unlisted options give the holder the right, but not the obligation, to purchase shares in a company at a fixed price, known as the exercise price, before a set expiry date. They are described as "unlisted" because they do not trade on the ASX in the way ordinary shares do.

Why Do Companies Use Them?

Options allow early-stage companies to attract and retain personnel without placing immediate pressure on cash reserves. Rather than offering a higher cash salary, a company can, consequently, provide the potential for future value tied directly to share price performance.

Why Does This Matter to Investors?

When management or key personnel hold options at a defined exercise price, their financial outcome is tied to growing shareholder value above that price. In this case, Olsen's options carry an exercise price of $0.004 per share and expire on 24 June 2029, providing a multi-year timeframe over which the company's exploration strategy is expected to develop.

Prominence Energy's South Australian Portfolio

Prominence Energy is a Perth-headquartered, ASX-listed company pursuing what it describes as an early-stage exploration strategy, seeking to identify energy opportunities and advance them through science-led exploration programmes.

The company's current portfolio is centred on South Australia, where it holds exposure to three distinct commodities.

Natural Hydrogen

Formed through natural geological processes within the earth, natural hydrogen accumulates underground and is described by the company as a zero-carbon fuel, producing only water vapour when combusted. According to the announcement, it can be identified using conventional, low-cost, non-invasive exploration methods.

Helium

A naturally occurring noble gas generated through the radioactive decay of uranium and thorium within ancient crustal rocks, particularly Archean granites. The company describes helium as a high-value, non-renewable resource with applications in medical imaging, semiconductor manufacturing, space technologies, and cryogenics, noting it is currently subject to global supply constraints.

Associated Natural Gas

This provides additional commodity exposure within the same exploration footprint. This multi-commodity exposure within a single exploration area is a notable feature of the company's stated strategy, combining an emerging clean fuel theme with exposure to a gas facing well-documented global supply pressures.

Why Is the Appointment Relevant to Investors?

The appointment of Prominence Energy's Darren Olsen as Chief Financial Officer is not an exploration result, but it reflects a stage of corporate development that often precedes more active phases of an explorer's activities. Building a credentialled finance function is, however, a foundational step that can support execution of strategy with greater structure and accountability.

Several factors are relevant for investors monitoring the company's progress:

• Emerging commodity exposure: Natural hydrogen represents an early-stage global exploration theme, with the company's South Australian portfolio providing exposure to this developing sector.
• Helium supply dynamics: Global helium supply constraints continue to underpin industry interest in helium exploration, given the gas's applications across medical and technology sectors.
• Cost discipline: The part-time CFO structure and option-based incentive arrangement reflect an approach consistent with the company's current stage of development.
• Alignment of interests: Option incentives granted to the incoming CFO link financial leadership outcomes to shareholder value creation.

In summary, Prominence Energy has taken a meaningful step in strengthening its corporate foundation with this CFO appointment. As the company continues to advance its South Australian helium and natural hydrogen portfolio, having financial oversight in place is intended to support its exploration strategy with additional structure and accountability. Investors tracking early-stage energy explorers with exposure to emerging commodities may, consequently, wish to follow Prominence Energy's progress in the period ahead.

Glossary of Key Terms

• CPA: Certified Practising Accountant, a recognised professional accounting qualification.
• Unlisted options: Rights to purchase shares at a fixed price before an expiry date; these do not trade on a public exchange.
• Exercise price: The price at which an option holder can purchase shares, set at $0.004 per option in this instance.
• Natural hydrogen (white hydrogen): Hydrogen formed through natural geological processes underground, described as a zero-carbon energy source.
• Helium: A rare, non-renewable noble gas used across medical and high-technology industries.
• Part-time CFO: A chief financial officer engaged on a part-time basis, a cost-effective governance arrangement commonly used by early-stage listed companies.

Want to Learn More About Prominence Energy's South Australian Portfolio?

Prominence Energy (ASX: PRM) is advancing an early-stage exploration strategy targeting natural hydrogen, helium, and associated natural gas across South Australia — commodities that sit at the intersection of emerging energy themes and well-documented global supply dynamics. With a strengthened leadership team now in place, the company is building the corporate foundations to support its next phase of exploration. For investors seeking to understand more about PRM's projects, strategy, and progress, visit the official Prominence Energy website at www.prominenceenergy.com.au.