South Africa-focused helium and natural gas explorer D3 Energy on October 30 provided a market update in its quarterly activities report for the period ending September 30, 2025.

The ASX-listed company (ASX: D3E) reported steady operational progress at its 100%- owned ER315 permit in South Africa’s Free State Province, with significant technical and regulatory milestones achieved during the quarter.

According to D3 Energy, its Production Right Application over part of the ER315 permit was formally accepted by the South African Petroleum Agency (PASA) on September 8. This milestone marked the start of the company’s transition from appraisal to development and provided the framework for near-term production planning, D3 Energy said.

The application covers certified 2P reserves of 10.91bn cubic feet (bcf), or 308.9mn cubic metres (mcm) of methane and 0.706 bcf (20mcm) of helium, representing around 3% of the D3 Energy’s broader contiguous acreage. According to the company, the ER315 permit also contains significant contingent and prospective resources and continues to deliver strong technical results.

Earlier in the quarter, D3 Energy finished re-testing at the RBD10 well, confirming that the reservoir matched the company’s geological model. The test showed steady natural recharge and higher flow rates than before, highlighting the high productivity of the ER315 reservoir system. The company also confirmed maintaining schedule discipline and cost efficiency at its flagship asset.

Alongside its South African operations, D3 Energy has recently expanded into Australia with the strategic acquisition of highly prospective helium and hydrogen permits in the Arckaringa Basin, further extending its global presence in critical gases while keeping a strong focus on progressing the ER315 project toward development.

“D3 Energy continues to deliver against its operational and corporate objectives. The formal acceptance of our Production Right Application represents another key milestone in progressing ER315 towards production,” said D3 Energy’s managing director and CEO David Casey.

“D3 Energy is building strong momentum as we commence the transition from explorer to developer in South Africa. Additionally, we have commenced a farmout process for our highly prospective helium and hydrogen assets in the Arckaringa Basin in South Australia to source a partner for drilling the Hyrdohelix Prospect and we are seeing genuine interest in the opportunity and initial discussions are certainly encouraging.”

Furthermore, D3 Energy announced that post-quarter end its shares began trading on the US-based OTCQX Best Market (OTCQX:DNRGF), broadening investor access and market visibility.