Prominence Energy (ASX:PRM) has completed negotiations for a native title agreement covering four petroleum exploration licence applications in South Australia’s Gawler region.
Its wholly owned subsidiaries, Cryptid Clean Energy and Gehyra Holdings, are preparing to execute an Indigenous Land Use Agreement (ILUA) with the Arabana Aboriginal Corporation, the registered native title body corporate of the Arabana people.
The agreement relates to PELA 566, PELA 581, PELA 752, and PELA 753, which cover a combined 19,889km² in the Northern Hinge area of the Gawler Helium and Natural Hydrogen Project.
Execution of the ILUA is a prerequisite for progressing the applications, but does not constitute the award of the acreage. The applications remain subject to government processes and final approval from the South Australian Government.
Prominence says negotiations took about four years to complete.
COO Krista Davies says the agreement removes a major hurdle to securing the Northern Hinge acreage and advancing the company’s broader exploration strategy.
“The Northern Hinge licences would materially expand our strategic land position and provide additional opportunities to be assessed alongside the Eyre Project as we progress prospective resource reviews, drilling engineering, potential partnering, and ultimately drilling,” Davies says.
The company says it is integrating gravity and magnetic data with geological, geochemical, laboratory, and satellite datasets to define and rank exploration targets.
Prominence expects to complete a prospective resources review for the Eyre Project by the end of August, followed by a Northern Hinge review by the end of September. A revised drilling engineering and cost review is scheduled for October.
Preliminary estimates indicate about $5 million could fund three exploration wells, or two wells alongside additional seismic data acquisition, according to the company.
Prominence is also targeting drilling in June or July 2027, subject to the licences being awarded, technical results, funding, and regulatory and operational approvals. It says its existing cash will fund the planned technical work and detailed drilling program planning during 2026.
Write to France Pinzon at Mining.com.au
Images: Prominence Energy
