D3 Energy (ASX: D3E) has reported further promising helium gas results from its testing of a series of historical gold exploration holes in South Africa.

Led by a team of respected Australian oil and gas executives, D3 has confirmed significant helium potential in the heart of a major market opportunity with its multi-well production testing program at ER315, located in the Free State province.

The D3 team has spent the last few years acquiring and completing initial exploration work at ER315, prior to the company’s listing on the Australian Securities Exchange in May this year.

Legacy gold bore hole

The company commenced testing at ER315 in August with successful gas flows achieved at RBD03, a legacy gold exploration bore hole drilled within the area of ER315 in 1983.

Using specialist equipment flown in from Australia, D3 followed that early success at RBD03 with positive results at RBD10 and RBD12.

The company moved to the RBD01 site in mid-October to commence production testing to evaluate reservoir characteristics, flow rates and pressure responses, as well as gas composition.

D3 has now wrapped up the RBD01 testing after the hole flowed at an average rate of 93 thousand standard cubic feet per day (Mscfd), producing 1,394Mscf of gas over a 15-day period.

Helium concentrations

Gas samples collected during testing have confirmed a helium composition of 6.2% and 85.6% methane—the highest helium concentration recorded to date across D3 Energy’s wells.

Chief executive officer David Casey said that with the RBD01 test now complete, the well has been shut in to allow the reservoir pressure to build up prior to further testing at the recently-drilled RBD12 well.

“It is very pleasing to produce and measure gas from a legacy gold exploration borehole drilled in 1982 that is still producing some 40 years later,” Mr Casey said.

“It is becoming increasingly clear that we have identified a significant active helium and natural gas system in the Bloemskraal area.”

US listing

As part of its promotion of the South African project, D3 has listed its ordinary shares on the OTCQB Venture Market in the US under the symbol DNRGF.

Mr Casey said the listing on the OTCQB will provide D3 Energy with access to a broader network of US-based investors, enhancing market visibility and increasing liquidity for shareholders.

“This listing comes at an ideal time, following recent interest from investors at the 121 Mining Investment Conference in New York.”

“Helium’s critical role in high-tech industries such as semiconductors, medical technology and energy production underpins the increasing global demand, positioning D3 Energy to capitalise on these growing markets.”