Noble Helium Ltd (ASX:NHE, OTC:NBHEF) has completed its acquisition of Earth Source Hydrogen Ltd, adding more than 40,000 square kilometres of prospective helium and hydrogen acreage in Western Australia.
100% of Earth Source Hydrogen shareholders accepted the transaction, and all conditions precedent are now satisfied.
The acquisition brings three Special Prospecting Authority areas in Western Australia's Southern Carnarvon Basin, comprising SPA-47 AO, SPA-44 AO and SPA/AO-0145.
The areas straddle the Yilgarn Craton and western sedimentary basins and give Noble Helium exclusive rights to apply for exploration licences across the prospective acreage.
WA exploration portfolio expands
Water bore sampling programs have already been completed across SPA-47 AO and SPA-44 AO, with independent analysis and evaluation of the samples underway.
Noble Helium intends to use the results to support potential exploration permit applications, with a summary of findings to be released once the assessment is complete.
At SPA/AO-0145, the company plans a ground gravity survey once native title agreements are concluded and an environmental plan has been approved.
Executive chair Dennis Donald said the acquisition broadened Noble Helium's geographic exposure while complementing its existing Tanzanian portfolio.
"The successful acquisition of ESH, achieved with 100% acceptances, reflects a level of confidence in Noble Helium's strategy and recognises the long-term benefits for both parties of a geographically diversified helium exploration portfolio," Donald said.
Share-based acquisition completed
Noble Helium will issue 87.17 million shares under the acquisition arrangements.
Of these, 75.88 million shares have been issued to unrelated parties, while a further 11.29 million shares associated with Donald and his nominees remain subject to shareholder approval.
The consideration covers Earth Source Hydrogen shareholders, outstanding director loans and convertible loan notes.
Next steps
Noble Helium will continue evaluating bore sampling results from the Southern Carnarvon Basin and progress applications for exploration permits across the acquired acreage.
The company will also prepare for the proposed gravity survey at SPA/AO-0145.
In parallel, Noble Helium is making final preparations for drilling at its Kinambo prospect in Tanzania, with drilling expected to begin in October 2026.
