3D Energi (TDO) H1 2025 earnings summary

Executive summary

• Focused on exploration and development of upstream oil and gas assets, with key activities in the Otway, Gippsland, and Bedout Basins.

• Significant regulatory milestones achieved, including NOPSEMA acceptance for Otway drilling and surrender of VIC/P74 permit.

• Continued progress on joint ventures with ConocoPhillips Australia, advancing drilling and seismic programs.

Financial highlights

• Net loss after tax for the half-year was $753,130, compared to $730,427 for the same period last year.

• Cash balance at 31 December 2024 was $1,874,842, down from $3,157,805 at 30 June 2024.

• Net cash used in operating activities was $602,763; $654,834 was invested in exploration and evaluation.

• Working capital position at 31 December 2024 was $1,540,902.

Outlook and guidance

• Drilling in the Otway Basin is scheduled for the second half of 2025, with rig mobilisation underway.

• Ongoing efforts to secure farm-in partners for Bedout Sub-basin and progress seismic acquisition.

• Continued evaluation of gas storage potential at Caroline Field and further seismic reprocessing planned.