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Defined LARGE contingent resource adjacent to existing producer, including ‘regenerating methane’
• 2C Contingent Resource of 22.4BCF Helium and 475 BCF Methane adjacent to already-producing Virginia field
• World class measured helium concentrations of 5% and as high as 9%
• The methane is biogenic and continually regenerating; classified as renewable by Petroleum Agency of South Africa
Simple, quick appraisal and development plan
• Proven production from new & historical gold exploration boreholes with second-mover advantages
• Expedited plan to confirm commercial production on existing resource and apply for Production Right
Large exploration upside
• Current independent Contingent resource only covers ~ 60% of permit area
• Only small percentage of acreage has been appraised; historical gold exploration boreholes flowing measurable gas identified in other permits
Attractive market outlook for helium
• Prices at record levels and predicted to continue to increase
• Regarded as a “Critical Mineral” with global demand exceeding supply
Strong local demand for methane
• Demand significantly exceeds supply in energy-starved South Africa
• D3’s largest shareholder, NOVO Energy, is a South African gas retailer
Low-cost drilling driven by experienced team
• Shallow very low-cost wells with very low operating expenditure
• Experienced team with proven track record of building energy companies from ground
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