SYDNEY: Australian helium exploration company D3 Energy Ltd. (ASX: D3E) has acquired two exploration permits in South Australia’s Arckaringa Basin, broadening its footprint in the growing helium and hydrogen sector.
The acquisition, completed through the purchase of Unleash Energy Pty Ltd., includes exploration permits PEL 121 and PEL 122. The Arckaringa Basin has become an emerging exploration hotspot for helium and hydrogen, attracting industry interest due to favorable geological conditions and regulatory advancements.
D3 Energy Managing Director Casey described the move as a key step in the company’s global expansion. “This acquisition complements our successes in South Africa and positions us to leverage South Australia’s growing helium potential,” Casey said.
The company aims to conduct an independent assessment of helium and hydrogen resources within the permits and has initiated a joint venture process to secure external project funding.
The Arckaringa Basin shares geological similarities with the Amadeus Basin, where previous drilling recorded helium concentrations of up to 9% and hydrogen levels of 11.5%. D3 Energy’s initial analysis has identified two prospects, Hydrohelix and Cootanoorina, with Hydrohelix considered drill-ready.
While the new permits expand D3 Energy’s portfolio, the company remains focused on its flagship helium project in South Africa, where it has logged significant resource discoveries.
Terms of the transaction include a cash payment of $200,000 and 5 million D3 Energy shares to Unleash Energy shareholders, with potential bonus shares contingent on future resource bookings and drilling activity.
D3 Energy is an ASX-listed company specializing in helium and natural gas exploration, primarily in South Africa’s Free State Province.