3D Energi (TDO) Q1 2025 TU earnings summary

Executive summary

• Advanced planning and procurement for the Otway Exploration Drilling Program (OEDP), with essential drilling items and support vessels contracted for 2025 drilling.

• Conceptual Otway gas development strategy presented, focusing on up to six exploration wells and leveraging well carry transfer flexibility.

• Continued subsurface evaluation and seismic studies to refine drilling locations and mature prospects in VIC/P79 and T/49P.

• Surrender application for VIC/P74 permit to focus resources on higher commercial potential projects.

Financial highlights

• Cash and cash equivalents at 30 September 2024 were A$2,346,000.

• Net operating cash outflows for the quarter totaled A$410,000; net investing outflows were A$394,000.

• Payments to related parties during the quarter amounted to A$137,000, covering salaries and director fees.

Outlook and guidance

• Drilling of two high-impact exploration wells in the Otway Basin planned for 2025, pending regulatory approval.

• Ongoing evaluation of new business diversification opportunities and continued marketing of Bedout Sub-basin farm-in partnership.

• Estimated 2.92 quarters of funding available based on current cash and outgoings.