2258 GMT - 3D Energi's unexpected discovery of natural gas in the Waarre C reservoir bodes well for what it could find in the main target of its current exploration campaign, Euroz Hartleys says. 3D Energi says the Charlemont-1 well operated by its partner, ConocoPhillips, recently intersected significant gas shows some 160 meters above the primary target of the Waarre A reservoir. Analyst Declan Bonnick had estimated the Waarre A reservoir could contain as much as 1.014 billion cubic feet of gas. That's equivalent to some A$400 million of value, or A$0.80 per 3D Energi share. "The unexpected gas intersected, as announced today, could potentially mean the cluster holds a larger amount of gas than previously estimated," Euroz says. It has a speculative buy call on 3D Energi. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
December 28, 2025 17:58 ET (22:58 GMT)
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