Warrego Energy (ASX: WGO) achieves Blue Hydrogen milestone in WA’s Mid West

Warrego Energy Limited has identified Western Australia’s Mid-West region as a fitting location for blue hydrogen production and carbon capture storage following its definitive feasibility of assessing reservoirs’ viability across the Perth Basin.

The consortium consists of Warrego, Pilot Energy Limited (ASX: PGY)
and APA Group (ASX: APA) has extended existing arrangements to evaluate the findings of further
a feasibility study and will also consider a range of potential commercial arrangements,
including future participation and timing before any decision is taken to proceed with next
stage of implementing and developing a project in the Mid-West region.

Blue Hydrogen is particularly interesting for the energy industry due to its broad usage area.

It is forecast to amount to 80 million metric tons by 2050, assuming governments will implement more stringent policies supporting the market for emission-free fuel sources.

“We welcome the news that the Feasibility Study has confirmed the Mid-West region is suitable for blue
hydrogen production and CCS,” CEO Dennis Donald said.

“Developing new CCS projects has become a major focus for Australian and global governments.
“The global market size for CO2 utilisation is estimated to be set to reach a market value of US$70 billion
by 2030, which will then increase to US$550 billion by 2040.”

The Company’s ASX share price is trading 3.3 per cent high at 15.5c in early trade.

About Warrego Energy Limited

Warrego Energy is focused on developing onshore assets in Australia and Spain. In Western
Australia’s prolific Perth Basin, the Company holds a 50% interest in EP469, including the West Erregulla
the gas project, and 100% of STP-EPA-0127, covering 8,700 km2 (or 2.2 million acres).

In Spain, the Company holds an 85% working interest in the Tesorillo gas project in the Cadiz region and
a 50.1% working interest in the El Romeral gas to power facility in the Seville region.