Integrated New Energy Businesses
Natural Hydrogen and Helium Exploration and Development (2H Resources, Buru 100%)
2H Resources was established to apply the geological knowledge of its supporting shareholder (Buru Energy) in the exploration and appraisal of natural hydrogen and helium accumulations. If found in commercially exploitable quantities, natural hydrogen will be cost competitive against all forms of industrially manufactured hydrogen.
The 2H Resources exploration portfolio consists of 17 licence application areas, covering a total 70,000 km² across South Australia, Western Australia and Tasmania.
In late 2024 Buru commenced a divestment process for third parties to acquire all or some of the 2H Resources corporate entity or assets and its strategically located natural hydrogen and helium exploration portfolio in Australia. This process has attracted several Australian and international parties who are currently undertaking due diligence.
Carbon Capture and Storage (GeoVault, Buru 100%)
Carbon capture and storage (CCS) is the process of capturing carbon dioxide (CO2) before it enters the atmosphere, transporting it, and storing it in underground geological formations.
CCS complements other emission reduction technologies by addressing emissions that currently cannot be avoided, including CO2 emissions from industrial processes.
Since early 2021 Buru has been progressing CCS technical and commercial activities through its GeoVault subsidiary, with a focus on onshore geological greenhouse gas (GHG) storage.
During the year GeoVault completed an initial assessment of the geological greenhouse gas (GHG) storage potential for areas in and around Buru’s petroleum licences and permits that has been independently validated by RISC Advisory. This assessment is in support of the commercialisation pathway for Buru’s 100% owned, low reservoir CO2 Rafael Gas Project in the onshore Canning Basin of Western Australia.
Battery Minerals Exploration – Battmin (Buru 50%)
Battmin, a wholly owned subsidiary of Buru, was initially formed to apply the geological knowledge that Buru had acquired in its extensive petroleum exploration activity in the Canning Basin to the exploration for minerals formed by similar processes, and often in association with, oil and gas accumulations.
Since September 2020, Battmin has been exploring the Barbwire Terrace Project in a 50:50 Joint Venture (JV) with Sipa Resources (ASX:SRI, Operator). The Barbwire Terrace Project is located south-east of Broome in Western Australia, covering the south-western margin of the Fitzroy Trough where historic drilling has confirmed the potential for base-metal mineralisation.
Following a drilling campaign completed in 2023, the JV completed an on-ground gravity program in September 2024, with the next round of drilling planned for 2025.
In late 2024 and in line with the outcomes of the recent business review, Buru commenced a process to explore divestment opportunities ahead of the next phase of capital requirement for Battmin. On 23 January 2025, Buru executed a Sales and Purchase agreement for the sale of 100% of Battmin’s interest in the Barbwire Terrace Project.
