D3 Energy (ASX: D3E) has achieved a major milestone — reporting its maiden independently certified reserves for the Production Right application area within its ER315 permit in South Africa.
The new reserves cover both methane and helium, marking a significant upgrade from earlier resource estimates. Importantly, they apply to just a small section — around 15% of ER315 — and only 16 wells in the company’s initial development plan.
Even so, the numbers are strong enough to support the early submission of D3's Production Right application, now set to be lodged a full year ahead of schedule and under budget.
D3's Managing Director David Casey said: "It is essentially the last piece of the puzzle which will allow us to apply for what will potentially be only South Africa’s second onshore production licence."
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