D3 Energy (ASX: D3E) has announced significant progress in developing its ER315 helium project in South Africa, following promising maiden reserves certification numbers. D3 Energy, which listed on the ASX last May after a $10 million IPO, focuses on energy exploration and production. The company is dedicated to identifying and developing commercially viable energy resources.
The ER315 reserve certification follows an aggressive exploration and appraisal phase across its Free State tenement. Initial certified numbers for ER315, covering approximately 15% of the project area and 9% of D3’s contiguous tenements, show net 3P helium reserves of 1.124 billion cubic feet and 17.36 billion cubic feet of methane.
Managing director David Casey stated that the independent reserve certification is an important initial step for the project, particularly given the small area covered by the assessment compared to the broader portfolio. “Results from ER315 have exceeded expectations, with drilling and production testing yielding excellent results that have enabled this earlier and larger than expected reserve certification.”
D3 Energy is finalising a production right application, a key step towards commercialising the ER315 field, and anticipates lodging the paperwork ahead of schedule. The company has identified a local helium market opportunity, with strong demand growth in southern Africa and globally due to its use in electronics, semiconductors, and healthcare systems. The global helium market is projected to exceed $6 billion by 2030. Methane is also attracting attention for its use in food storage.
