D3 Energy Ltd (ASX:D3E, OTCQX:DNRGF) materially expanded its certified helium resource base during the June 2026 quarter, while advancing drilling and development activities across its South African and Australian portfolio.
The company’s combined 2C helium resource across ER315, PR016 and ER386 in South Africa increased by 65% to 35.6 billion cubic feet (BCF), following independent certification of a maiden contingent and prospective resource at the 100%-owned ER386 permit.
Combined 2U prospective helium resources across the three Free State assets also rose 94% to 52.5 BCF.
Since quarter-end, D3 has added a maiden prospective resource at the Hydrohelix and Cootanoorina prospects in South Australia and commenced drilling the first of two planned wells at Nooitgedacht within ER315.
ER386 adds scale to South African portfolio
Independent auditor Sproule ERCE certified a maiden 2C contingent helium resource of 14.0 BCF and a 2U prospective helium resource of 25.4 BCF at ER386.
The permit is contiguous with D3’s flagship ER315 asset and lies along the same Virginia and Ventersburg fault corridor that supports the company’s existing reserves.
ER386 is also north of D3’s initial production right application area and forms part of the broader Free State helium province, where concentrations of up to 8% helium have previously been verified.
Managing director and CEO David Casey said the certification represented a “material step-up” in the scale of D3’s resource base and further supported the geological continuity of the South African system.
Nooitgedacht drilling targets reserve growth
After the end of the quarter, D3 spudded the NGT245 E well at Nooitgedacht, around 43 kilometres north of the Bloemskraal area that underpins its production right application.
NGT245 E is the first of two planned wells targeting the Witwatersrand formation along the Homestead Fault.
The program will assess reservoir deliverability and collect further data on helium and methane concentrations, to increase reserves and support the conversion of additional exploration areas to production rights.
The nearby historic Nooitgedacht Major borehole flowed at an average rate of 95 thousand standard cubic feet per day when tested in January 2025, with helium concentrations of 5.6% and methane at 83.2%.
D3 expects a decision on its PR016 production right application in the fourth quarter of 2026 or first quarter of 2027.
Australian resource base established
D3 also reported a maiden independently certified prospective resource for the Hydrohelix and Cootanoorina prospects within its 100%-owned PEL121 permit in South Australia.
The unrisked best-estimate resource includes 54 BCF of helium, 88 BCF of hydrogen and 226 BCF of methane, net of a 3.125% royalty.
The certification gives D3 a second geographically diversified resource base and expands its exposure to helium and naturally occurring hydrogen outside traditional global supply centres.
The company has begun a farm-out process for Hydrohelix and is planning exploration drilling in PEL121 from 2027.
Next steps
D3’s priorities for the remainder of 2026 include completing drilling and seismic acquisition in South Africa, progressing its initial production right, advancing potential offtake arrangements and maturing Hydrohelix toward drilling.
The company finished the quarter with approximately A$6.7 million in cash, providing an estimated 5.28 quarters of funding based on current operating expenditure.