D3 Energy Ltd (ASX:D3E, OTCQB:DNRGF) reported continued regulatory, technical and corporate progress during the December 2025 quarter as it advanced its South African helium and gas portfolio and broadened investor access through a US market upgrade.
Arckaringa Project Prospects and Leads.
During the quarter, D3 Energy continued work on its Production Right application for PR016 in South Africa’s Free State Province, with Environmental Impact Assessment (EIA) studies ongoing and Front End Engineering and Design (FEED) activities commencing.
The company also began scouting potential well and pipeline routes and advanced FEED work on the proposed helium extraction plant and associated infrastructure. Engagement with potential gas offtakers continued alongside community and landholder consultation as part of the regulatory process.
“The December quarter was focused on continuing EIA work and commencing FEED activities for our Production Right application as well as acquiring additional telluric data to assist in designing the 2026 seismic and drilling campaigns to underwrite further resource and reserve upgrades. Progress was also made on potential partner discussions with respect to PEL’s 121 & 122 in South Australia,” D3 Energy’s managing director and CEO, David Casey said.
ER315: Well testing and seismic preparation
At the ER315 tenement, D3 Energy completed re-testing of the Nooitgedacht Major well, confirming sustained gas flow at average rates slightly higher than those recorded during previous testing.
Audio magnetotelluric surveys were completed across the Nooitgedacht area to assist in refining well locations ahead of the planned drilling program. In parallel, the company commenced preparatory work for a 2D seismic program scheduled to begin in the second quarter of 2026, with seismic line scouting completed during the period.
Certified reserves at ER315 include gross gas reserves of 7.21 Bcf (1P), 14.43 Bcf (2P) and 22.97 Bcf (3P), with net helium reserves of 0.353 Bcf, 0.706 Bcf and 1.124 Bcf respectively.
Certified Helium and Methane Reserves at ER315.
PEL 121 and 122: Farm-out discussions continue
In Australia, D3 Energy progressed discussions regarding a potential farm-out of the Hydrohelix prospect within PEL 121 and PEL 122 in the Arckaringa Basin. Engagement with prospective partners focused on funding structures and potential participation in future drilling activities.
US listing upgraded to OTCQX
During the quarter, D3 Energy completed the upgrade of its US listing to the OTCQX Best Market, a move designed to improve visibility and accessibility for international investors.
Contingent and prospective resource base maintained
The company continues to hold a substantial independently certified contingent and prospective resource at ER315.
Contingent recoverable gas resources are estimated at 329.44 Bcf (1C), 533.02 Bcf (2C) and 835.07 Bcf (3C), while prospective recoverable gas resources range from 228.44 Bcf (1U) to 1,875.35 Bcf (3U).
Corporate and cash position
Key expenditure during the quarter related to exploration and evaluation at ER315, alongside EIA and FEED activities for PR016, as well as corporate and administration costs.
D3 Energy reported cash reserves of approximately $3.5 million at December 31, 2025, providing an estimated funding runway of around 6.4 quarters.