Prominence Energy Finalises Native Title Agreement for Gawler Helium Project

Prominence Energy Finalises Native Title Agreement, Advancing ~20,000 km² Gawler Acreage

Prominence Energy (ASX: PRM) has finalised negotiations on an Indigenous Land Use Agreement (ILUA) with the Arabana Aboriginal Corporation, clearing a major regulatory hurdle in the Prominence Energy native title agreement for Gawler helium and natural hydrogen project. This clears a significant obstacle standing between the company and the award of nearly 20,000 km² of prospective acreage in South Australia.

According to the ASX announcement dated 31 July 2026, the agreement was negotiated through Prominence's wholly owned subsidiaries, Cryptid Clean Energy Pty Ltd and Gehyra Holdings Pty Ltd. It covers four Petroleum Exploration Licence Applications — PELA 566, PELA 581, PELA 752 and PELA 753 — spanning a combined 19,888.84 km² in the Northern Hinge area of the company's Gawler Helium and Natural Hydrogen Project.

A Four-Year Process Reaches Completion

The ILUA is the result of approximately four years of sustained engagement with the Arabana Aboriginal Corporation. Prominence states it believes this represents the first Native Title agreement successfully negotiated by a pure-play natural hydrogen and helium explorer in South Australia.

"Finalising this agreement is a landmark achievement for Prominence and the culmination of approximately four years of sustained work. We believe this is the first Native Title agreement successfully negotiated by a pure-play natural hydrogen and helium company in South Australia. It clears a major hurdle towards securing almost 20,000 square kilometres of highly prospective acreage in the Northern Hinge area of our Gawler Project."

— Dr Krista Davies, Chief Operating Officer, Prominence Energy

Native Title agreements are a legal prerequisite for the award of petroleum exploration licences in areas subject to Native Title claims. Furthermore, according to the announcement, finalising the ILUA materially de-risks the pathway to licence grant for the four applications covered by the agreement.

What's at Stake: The Northern Hinge Acreage

The four licence applications sit within the Northern Hinge area of the Gawler Project, an exploration province where Prominence has identified potential for naturally occurring hydrogen, helium and associated natural gas systems.

If granted, these licences would expand Prominence's South Australian portfolio alongside its existing Eyre Project, giving the company a two-project structure across a substantial land position in the state.

It should be noted that licence award remains subject to execution of the ILUA, completion of applicable government processes, and final approval by the South Australian Government. The ILUA has been finalised between the Arabana Aboriginal Corporation and Prominence's subsidiaries, not Prominence Energy Limited directly, with the subsidiaries continuing to work with the South Australian Government through the remaining approval steps.

Understanding Indigenous Land Use Agreements

What Is an ILUA?

An Indigenous Land Use Agreement is a voluntary, legally binding agreement between a Native Title group and another party — such as a company seeking to access or use land — that sets out the terms under which that activity can proceed. In the Australian resources sector, ILUAs are commonly required before exploration or mining licences can be awarded over land subject to Native Title claims.

Why Does It Matter for Investors?

Without an executed ILUA or an equivalent Native Title outcome, regulators cannot award petroleum exploration licences over the relevant area. This means that regardless of the technical work and capital directed toward the Northern Hinge strategy, the licences could not previously be granted without this agreement in place.

Glossary of Key Terms

• ILUA (Indigenous Land Use Agreement): A negotiated, registered agreement between a Native Title group and a proponent, establishing rights and obligations over land use.
• PELA (Petroleum Exploration Licence Application): A formal application to the South Australian Government for the right to explore for petroleum resources, including natural hydrogen and helium, within a defined area.
• Native Title: Legal recognition under Australian law that Aboriginal and Torres Strait Islander peoples hold rights and interests in land and waters according to their traditional laws and customs.
• Natural hydrogen: Naturally occurring hydrogen formed through geological processes within the earth, also called white or geologic hydrogen. It produces only water vapour when combusted.
• Helium: A non-renewable noble gas generated through radioactive decay in ancient crustal rocks, used in medical imaging, semiconductor manufacturing, cryogenics and space technologies.

The Road to Drilling: A Staged, Capital-Efficient Strategy

The Prominence Energy native title agreement for Gawler helium and natural hydrogen project forms part of a broader, staged pathway toward a multi-well drilling programme targeted for mid-2027, according to the announcement. The Northern Hinge Project is being advanced in parallel with the Eyre Project.

Key components of the strategy include:

1. Leads and prospects definition — Gravity and magnetic data inversion and interpretation are being integrated with existing geological, geochemical, laboratory and satellite datasets to build and rank a portfolio of leads and prospects across both projects.

2. Prospective Resources Reviews — Sequential reviews covering the Eyre Project and the Northern Hinge Project are planned across August and September 2026. The Northern Hinge review is intended to assess the scale of opportunities across the licence application area.

3. Drilling cost efficiency — Preliminary costings indicate that approximately $5 million could potentially fund three exploration wells, or alternatively two exploration wells plus additional seismic data acquisition, reflecting what the company describes as the relatively shallow nature of the targets.

4. Funding and partnering — As the portfolio becomes more defined through technical work, Prominence intends to assess farm-out arrangements, strategic partnerships and other funding structures that could reduce direct capital exposure while preserving participation in exploration outcomes.

5. Existing cash coverage — The company states its existing cash position is expected to fund the planned 2026 technical work programme, including the Prospective Resources Reviews, updated drilling engineering, and detailed drilling programme planning.

The timing and composition of the 2027 drilling campaign remains subject to licence awards, technical outcomes, funding and required regulatory and operational approvals.

Why the Gawler Project Warrants Investor Attention

Prominence's South Australian portfolio spans two commodities attracting global interest for different reasons.

Natural hydrogen is gaining attention as a potential zero-carbon energy source. Unlike manufactured green or blue hydrogen, naturally occurring hydrogen requires no energy-intensive production process. It forms through geological processes and accumulates underground, where it can be identified using conventional, low-cost, non-invasive exploration methods.

Helium, however, is a high-value, non-renewable resource with no synthetic substitute. Its applications span medical imaging, semiconductor manufacturing, space technologies and cryogenics. Global helium supply is concentrated in a small number of jurisdictions, and demand from technology industries continues to grow.

Prominence's positioning as an explorer across both commodities within the same geological province provides a dual-exposure profile that is relatively uncommon on the ASX. The Gawler Project, particularly in the Northern Hinge area, is associated with geological conditions relevant to both helium accumulation in ancient Archean granites and natural hydrogen systems.

What Makes the Northern Hinge Acreage Notable?

• Nearly 20,000 km² of contiguous acreage across four licence applications in an emerging exploration province
• Expands Prominence's existing Gawler Project footprint
• Provides additional opportunities to be assessed alongside the Eyre Project as part of an integrated portfolio review
• Assessed through the same technical framework applied across the broader South Australian portfolio

Investment Considerations

The announcement frames the ILUA finalisation as one component within a sequenced value-creation strategy rather than a standalone corporate event. Prominence has previously outlined a pathway from land acquisition through technical definition to drilling, and the ILUA addresses a prerequisite that had constrained progress on the Northern Hinge licences.

Points for investors to consider:

• Portfolio scale: The potential addition of ~20,000 km² to an existing South Australian land position creates a larger portfolio from which to define and rank drill targets.
• Technical work programme: Sequential Prospective Resources Reviews and drilling engineering reviews over the coming months are intended to progressively define the opportunity set.
• Capital efficiency: Preliminary costings of approximately $5 million for three exploration wells reflect a shallow target profile, according to the company. Partnering and farm-out options may furthermore reduce direct capital exposure.
• Milestone tracking: Several discrete technical milestones are scheduled between now and mid-2027, providing points at which investors can assess progress.
• First-mover claim: Prominence's stated position as the first pure-play natural hydrogen and helium company to negotiate a Native Title agreement in South Australia reflects an early entry into this exploration segment, as described by the company.

"Prominence Energy has finalised a Native Title agreement covering close to 20,000 km² of Northern Hinge acreage in South Australia's Gawler Project. With sequential Prospective Resources Reviews scheduled through 2026 and a multi-well drilling programme targeted for mid-2027, the company has outlined a series of technical and operational milestones for investors to monitor over the coming year."

Summary of Key Points

The Prominence Energy native title agreement for Gawler helium and natural hydrogen project represents a significant step forward, and consequently the following points summarise the key takeaways for investors:

• The ILUA finalisation addresses a prerequisite for licence award over ~20,000 km² of Northern Hinge acreage in South Australia.
• A staged technical roadmap extends through to a targeted multi-well drilling programme in mid-2027, with several reporting milestones along the way.
• Preliminary drilling cost estimates of approximately $5 million for three wells reflect what the company describes as a shallow, capital-efficient target profile.
• The company states its existing cash position is expected to cover the 2026 technical work programme.
• The Gawler Project provides exposure to both natural hydrogen and helium — two commodities with distinct demand drivers — within the same South Australian geological province.

Want to Learn More About Prominence Energy's Gawler Project?

Prominence Energy (ASX: PRM) has cleared a significant regulatory hurdle with the finalisation of its Native Title agreement, unlocking a pathway to nearly 20,000 km² of prospective acreage in South Australia's Northern Hinge — all while advancing a staged technical programme toward a targeted multi-well drilling campaign in mid-2027. For investors looking to understand the full scope of the company's dual-commodity Gawler Project and what the coming milestones could mean for the portfolio, visit www.prominenceenergy.com.au to find out more.