Hyterra Says Two Wells in Kansas Project in Drilling Sequence Since April; Shares Up 12%

MT Newswires Live

05-06

Hyterra (ASX:HYT) said two firm wells are in the drilling sequence at the Nemaha Project in Kansas since April, according to a Tuesday Australian bourse filing.

The Sue Duroche 3 well was drilled to a total depth of 1,052 meters, the filing said. Independent laboratory analysis verified hydrogen concentrations of up to a little over 96% from mud gas from the well. The remaining samples for the well are being sent to independent laboratories for verification and quantification.

This marks the first steps for the firm in executing a comprehensive 12-month exploration work program, per the filing. This exploration program funding is sourced from the recent investment in the firm by Fortescue Future Industries Technologies.

Hyterra's shares rose nearly 12% in recent trading on Tuesday.

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