HyTerra (ASX:HYT) operations and portfolio update

HyTerra (ASX:HYT) has provided an update on its Nemaha Project in Kansas and its Geneva Project in Nebraska.

The Nemaha Project comprises 100% owned and operated leases across two areas: the Nemaha Ridge (Ridge Play) and the Midcontinent Rift (Rift Play).

The Geneva Project comprises a 16% earn-in joint development with Natural Hydrogen Energy LLC, targeting geologic hydrogen and helium.

Highlights

• McCoy-1 production test targeting two separate zones for hydrogen and helium gas flow rates and compositions.
• Equipment to be mobilised in June with testing planned to commence the week of 13 July.
• Helium gas shows including sample concentrations up to 5% at McCoy-1 and Sue Duroche-3.
• More than 80% of HyTerra’s leased acreage is within the Rift Play.
• Laboratory analyses by University of Colorado Boulder demonstrate hydrogen generation from selected rock samples.

The McCoy-1 drill site was identified using the Xcalibur Airborne Gravity Gradiometry and Magnetic survey acquired in 2023 and reprocessed legacy seismic data.

McCoy-1 is located 9 km east of Sue Duroche-3 and was drilled to a total depth of 5,562 ft MDKB (1,695 m), passing through approximately 1,430 ft (435 m) of sedimentary rocks and 4,132 ft (1,260 m) of Precambrian basement.

Two distinct flow intervals were previously observed, and a real-time gas monitoring system measured elevated hydrogen and helium gas shows.

The production testing program will include recovery of formation fluid to surface, representative gas sampling, pressure monitoring, and water quality analysis.

HyTerra’s acreage in the Ridge and Rift Plays, which represents approximately 20% and 80% of the total acreage respectively, includes gravity, magnetic, seismic, wireline logging, and rock and fluid gas sampling data.

The Rift Play leases are located above the Midcontinent Rift, where natural hydrogen may be sourced from iron-rich mafic and ultramafic rocks undergoing serpentinisation, and several leads within the Rift Play have been identified and are being high-graded for potential drilling.

Discussions with landowners are underway to secure agreements and suitable well sites, with the intention to drill a well in 2026, subject to funding.

Ongoing hydrogen source rock analyses by the University of Colorado Boulder have demonstrated hydrogen generation from selected rock samples under laboratory conditions.

The results support the technical assessment of natural and engineered hydrogen opportunities and inform the Company’s leasing strategy and well completion design, while HyTerra continues to refine experimental procedures and test preliminary findings throughout 2026.

The Nemaha and Geneva Projects could connect via existing transport infrastructure to nearby off-takers, including ammonia manufacturers and petrochemical plants.

The operational programs at McCoy-1 and ongoing laboratory analyses are designed to evaluate the geologic hydrogen and helium potential across HyTerra’s US acreage.

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