Shares in Prominence Energy (ASX:PRM) jumped more than 50% during Friday trading after the company detailed what it described as a "capital-efficient" pathway toward mid-CY27 helium and hydrogen drilling in South Australia, along with a series of near-term technical milestones.

Helium — a non-renewable gas essential to MRI scanners, semiconductor fabrication, fibre optics, and space programs — has experienced periodic global supply tightness, with production concentrated among a limited number of international sources. Natural hydrogen, also referred to as white or gold hydrogen, has drawn growing exploration interest as a potentially low-cost, low-carbon energy source. South Australia has emerged as a focal point for both gases, attracting multiple explorers to its underexplored basins.

Following a first half of CY26 in which the company strengthened the geological case across its South Australian acreage — spanning approximately 64,000 square kilometres — through soil gas surveys, laboratory analysis, and satellite studies, Prominence is now entering a phase aimed at converting accumulated exploration data into defined leads and prospects.

"The work completed over the past several months has given us a much stronger understanding of the helium and natural hydrogen potential across our South Australian portfolio," Prominence CEO Dr Krista Davies said.

"Over the coming months, we expect to complete several important work programs that have the potential to materially improve the definition of our projects, including advanced geophysical interpretation and independent Prospective Resources Reviews across both the Eyre and Northern Hinge Projects."

Dr Davies described the company's approach as disciplined, noting that Prominence is leveraging relatively low-cost work programs to build the strongest possible technical and commercial foundation before finalising its 2027 drilling plans.

This strategy, she explained, should provide shareholders with "a clear sequence of potential catalysts" as the company progresses from evidence-gathering to defined prospects, potential resource estimates, identified opportunities, and ultimately drilling.

The immediate July work program will focus on gravity and magnetic data inversion and interpretation. These results will be integrated with existing geological, geochemical, and satellite datasets to pinpoint the most prospective areas across the portfolio.

Independent Prospective Resources Reviews are scheduled for all key assets. The review for the Eyre Project is targeted for completion by the end of August, while the Northern Hinge Project review is expected by the end of September. According to Prominence, these assessments are designed to evaluate the potential scale of identified opportunities and inform future technical, commercial, and funding decisions.

Following the completion of these reviews, Prominence plans to update its drilling engineering and cost evaluations in October.

PRM was trading at 0.2 cents per share around midday Friday.