D3 Energy Expands into High-Value Gas Exploration in South Australia
Key Ideas
- D3 Energy has acquired two exploration permits in the Arckaringa Basin in South Australia to focus on helium and hydrogen exploration, following global interest in the region.
- The company aims to leverage its experience in South African helium exploration to identify drill-ready prospects and create significant shareholder value through diversified portfolios.
- D3 Energy plans to conduct an independent assessment of gas resources in the permits and is seeking a joint venture partner for project funding, while maintaining focus on its existing project in South Africa.
- The acquisition provides D3 Energy with a cost-effective entry into promising licenses with low ongoing holding costs, supporting its strategy of accelerating production rights application and portfolio expansion.
D3 Energy, listed on the ASX as D3E, has recently joined the pursuit for high-value hydrogen and helium in South Australia, following in the footsteps of Gold Hydrogen's successful discoveries in the region. The company has acquired two exploration permits, PEL 121 and PEL 122, in the Arckaringa Basin by purchasing all shares of Unleash Energy. Leveraging its expertise from South African helium exploration, D3 Energy aims to explore drill-ready prospects in the region.
D3 Energy's Managing Director, David Casey, expressed optimism about the acquisition, highlighting the strategic move to diversify the company's portfolio and potentially create substantial shareholder value. The company plans to conduct an independent assessment of the gas resources within the permits and is actively seeking a joint venture partner for project funding.
While expanding its presence in South Australia, D3 Energy remains committed to its ER 315 project in South Africa. The company's focus on cost-effective exploration and accelerating production rights applications aligns with its goal of sustainable growth and global expansion in the helium sector. D3 Energy's acquisition strategy positions it well to capitalize on the increasing interest in hydrogen and helium exploration, particularly in high-potential regions like South Australia.
Topics
Africa
Energy Exploration
Global Expansion
Acquisitions
Joint Venture
Portfolio Diversification
Low-cost Exploration
Latest News