D3 Energy Certifies Maiden Prospective Resource for PEL121 Permit in SA

D3 Energy (ASX: D3E) has reported independent certification of maiden prospective resources for the Hydrohelix and Cootanoorina prospects within its wholly owned PEL121 exploration permit in South Australia’s Arckaringa Basin.

The best estimate (2U) contains 54 billion cubic feet (Bcf) of recoverable helium, 88Bcf of recoverable hydrogen, and 226Bcf of methane across the two prospects.

The result establishes a second geographically diversified prospective resource base for D3 Energy in South Australia alongside its helium and methane reserves and resources in South Africa’s Free State.

The prospective resources relate to undiscovered accumulations, remain unadjusted for discovery and development risk, and require further evaluation to determine whether significant recoverable quantities exist.

Independent Assessment Defines Scale

Sproule ERCE independently reviewed the available seismic interpretations, fault frameworks, structural closures and depth-conversion methods applied to the Heavitree Sandstone and Fractured Basement horizons.

The low estimate (1U) comprises 14Bcf of helium, 21Bcf of hydrogen, and 58Bcf of methane, while the high estimate (3U) reaches 190Bcf, 331Bcf, and 803Bcf respectively.

The estimates were assessed as at 30 June 2026 under the Society of Petroleum Engineers Petroleum Resources Management System (PRMS) using a deterministic method, with helium evaluated as a non-hydrocarbon gas under extended PRMS principles.

Reported volumes reflect D3 Energy’s 100% interest in PEL121 after a 3.125% royalty and are stated in Bcf without conversion to other equivalent units.

Planning is underway to drill and test an exploration well in PEL121 during 2027, with assessed chances of success ranging from 6% to 8% for helium, 4% to 7% for hydrogen, and 3% to 4% for methane and an estimated 80% chance of commercial development following a discovery.

Geology Supports Future Drilling

PEL121 and adjoining PEL122 cover 5,865 square kilometres in the Arckaringa Basin near Olympic Dam, with two prospects and nine additional leads identified across PEL121 from available seismic data.

Hydrohelix covers about 148km² and D3 Energy has started a farm-out process intended to support future drilling activity at the prospect.

D3 Energy considers the system directly analogous to the nearby Mt Kitty-1 well, which recorded helium concentrations of up to 9%, hydrogen of up to 11.5% and methane of up to 13%.

Chief executive officer David Casey called the certification “another significant milestone” that further confirms the potential D3 sees in PEL121.

“Together with our existing helium and methane reserves and resources in the Free State of South Africa, this result gives D3 Energy a genuinely diversified, multi-country exposure to critical gases at a time when global demand for these gases continues to grow while supply is significantly impacted by events in the Middle East,” he added.