D3 Energy spuds first of two helium wells at Nooitgedacht in South Africa

• Successfully spuds first of two planned wells in the Nooitgedacht area
• Designed to target the Witwatersrand formation to further assess the reservoir’s deliverability
• Also collecting additional data on helium and methane concentrations
• Drilling aimed at increasing company’s reserve base in ER315

D3 Energy (ASX:D3E) has successfully spudded the first of two planned wells at Nooitgedacht, located within the ER315 permit in Free State, South Africa.

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This marks the next stage of the company’s ongoing helium exploration and appraisal program aimed at increasing the company’s reserve base in ER315 and converting additional exploration right areas (ER’s) into production rights.

The Nooitgedacht area is located approximately 43 km to the north of an area where the company has already booked reserves to underpin a production right application lodged last year and is positioned along the Homestead Fault that traverses through the northern section of ER315.

This new program will consist of two wells and will be undertaken by the same contractor who successfully completed the company’s initial drilling program.

The wells are located near the Nooitgedacht Major historical borehole that when production tested in January 2025 flowed at an average rate of 95 thousand standard cubic feet per day (Mscfd) with helium concentrations of 5.6% and methane at 83.2%.

“The spudding of our first well at Nooitgedacht is another step forward in our methodical appraisal of ER315 as we look to build upon and extend the company’s ER315 reserve base some 40 km to the north, all the while underpinning the conversion of existing exploration right areas to production rights,” MD and CEO, David Casey, said.

“With our production right application accepted for processing by Petroleum Agency SA last year, this drilling programme is about continuing to build the data set that supports the ongoing development of this area as one of the most compelling helium provinces in the world.”

Upon the successful intersection of gas, the new NGT245 E well will undergo production testing, which will provide critical insights into the ongoing development of ER315.

The results will inform key decisions regarding well interference, spacing, and the future submission of additional production right applications to the South African authorities.

D3E was up 14.5% to 35.5¢. Mkt cap $46.84M.

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