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- Maiden prospective resource received for the Hydrohelix and Cootanoorina prospects
- Total prospective resource of 54 BCF recoverable helium andn88 BCF recoverable hydrogen
- Second prospective resource base in South Australia
D3 Energy (ASX:D3E) has unveiled an independent certification of a maiden prospective resource for the Hydrohelix and Cootanoorina prospects in South Australia.
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The two prospects, located within the company’s 100%-owned PEL121 exploration permit in the Arckaringa Basin, has been initially assessed to potentially contain 54 billion cubic feet (BCF) of recoverable helium, 88 BCF of recoverable hydrogen and 226 BCF of methane.
PEL121 and the adjoining PEL122 together cover 5,865 sq. km near the Olympic Dam uranium deposit. To date, two prospects (Hydrohelix and Cootanoorina) and nine leads have been identified across PEL121 on available seismic data.
MD and CEO, David Casey, said the certification of a maiden prospective resource at Hydrohelix and Cootanoorina in both the Heavitree Sandstone and Fractured Basement further validates the helium and hydrogen system identified across PEL121 and adds to the scale of D3 Energy’s broader South Australian resource position ahead of further work to mature the remaining leads identified across PEL121 and PEL122.
“The certification of a maiden prospective resource at Hydrohelix and Cootanoorina is another significant milestone for D3 Energy and further confirmation of the potential we see across our PEL121 permit in South Australia,” he said.
“Both prospects sit within a system directly analogous to the Mt Kitty-1 well, which recorded helium concentrations of up to 9% and hydrogen concentrations of up to 11.5%, and have been matured on seismic data that maps the same combination of deep basement faulting, a high-quality Heavitree Sandstone reservoir and a regional evaporite seal that underpins the broader PEL121 and PEL122 acreage.
“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.”
The PEL121 and PEL122 permits have been assessed to host a working helium and hydrogen system, underpinned by mapped basement faults suited to hydrogen generation, an ideal Heavitree Sandstone and Fractured Basement reservoir, and a proven regional evaporite seal, a combination directly analogous to the nearby Mt Kitty-1 well, which recorded helium concentrations of up to nine per cent, hydrogen concentrations of up to 11.5%, and methane concentrations of up to 13%.
D3 Energy has commenced a farm-out process for the Hydrohelix prospect to support future drilling activity.
D3E was down 1.30% to 38.0¢. Mkt cap $58.17M.
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