BUZZ-Australia's D3 Energy soars on helium, methane finds at S.African project

Reuters

01-15

BUZZ-Australia's D3 Energy soars on helium, methane finds at S.African project

** D3 Energy D3E.AX soars 21.5% to A$0.079, highest since Jan. 3, 2024

** Natural gas and helium explorer announces preliminary results at Nooitgedacht Major in South Africa's Free State Province show 5.6% helium and 83.2% methane concentrations, emphasizing the asset's potential as a significant helium and natural gas resource

** "It would appear that we have unlocked a potential new production province to the north but at significantly lower development costs due to shallower drilling depths translating to considerably lower drilling costs," MD and CEO David Casey says

** Around 821,516 shares traded, 11.6x the 30-day avg

** Stock down 66.4% since its debut in May, 2024

(Reporting by Manasi Dasa Sundeep in Bengaluru)

((Manasi.DasaSundeep@thomsonreuters.com;))

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