3D Energi (TDO) Q4 2024 TU earnings summary

Executive summary

• Advanced exploration activities in the Otway, Gippsland, and Bedout Basins, with key regulatory and commercial milestones achieved during the quarter.

• Secured flexibility in farmout agreements and executed a gas sales right of first refusal deed with a joint venture partner, supporting a transition from explorer to potential producer.

• Continued technical evaluation and seismic studies across all permits, progressing towards drilling and resource maturation.

Financial highlights

• Cash and cash equivalents at 30 June 2024 were A$3,157,000.

• Net operating cash outflows for the quarter were A$302,000; net investing outflows were A$445,000.

• Payments to related parties totaled A$138,000 for the quarter.

• Estimated quarters of funding available: 4.25, based on current cash and outgoings.

Outlook and guidance

• Drilling in the Otway Basin is expected to commence in Q1 2025, pending regulatory approvals and rig availability.

• Ongoing efforts to secure farm-in partners for Bedout Sub-basin exploration and Sauropod 3D seismic acquisition.

• Continued technical studies and seismic work to mature prospects and refine exploration strategies across all permits.