D3 Energy (ASX: D3E) has made significant progress in its plans to develop the ER315 helium project in South Africa, with the receipt of promising maiden reserves certification numbers.
After successfully listing on the ASX last May on the back of a heavily supported $10 million IPO, the ER315 reserve certification comes after an aggressive period of exploration and appraisal by the company at its large tenement holding located in the country’s Free State area.
The initial certified numbers from ER315 – covering approximately 15% of the total project area and only 9% of D3’s contiguous tenements – include net 3P (proved, probable and possible) helium reserves of 1.124 billion cubic feet (bcf) and 17.36bcf of methane in the same category.
Managing director David Casey said that, given the very small area covered by the assessment compared to its broader portfolio, receipt of the independent reserve certification was an important first step for the project.
“Results from ER315 have exceeded expectations, with drilling and production testing yielding excellent results that have enabled this earlier and larger than excepted reserve certification.”
It is essentially the last piece of the puzzle which will allow us to apply for what would be only South Africa’s second onshore production licence,” Mr Casey said.
D3 is currently finalising a production right application, which is another key step towards commercialising the ER315 field, and expects to lodge the requisite paperwork ahead of schedule.
D3 has already identified a local helium market opportunity with demand for the gas growing strongly in southern Africa and around the world, mainly due to its use in electronics and semiconductor devices, as well as in healthcare systems.
Analysts have forecast that the global helium market, valued at $5.4 billion in 2025, is set to grow at a compound annual rate just above 3% to exceed $6 billion by 2030.
Methane is also attracting growing interest due to its use in food storage.
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