3D Energi (ASX:TDO) has announced a gas discovery at the Charlemont-1 exploration well within the VIC/P79 permit, offshore Victoria, where it holds a 20% interest.
The well, drilled as part of the Otway exploration drilling program, recovered a gas sample from the Waarre C sandstone at 2,571m, confirming the presence of hydrocarbons.
Preliminary rig-based analysis shows a CO₂ concentration of 16 Mol%, comparable to the nearby La Bella gas field.
Wireline logging also recorded elevated gas readings and resistivity in the primary Waarre A target at 2,683m, indicating probable hydrocarbon presence, though further analysis is ongoing.
The discovery at Charlemont-1 validates gas charge at both ends of the Charlemont Trend and de-risks intervening prospects, many of which display consistent seismic amplitude anomalies.
Charlemont-1 is the second gas find under the OEDP, following the Essington discovery, underscoring the prospectivity of the Charlemont cluster and the value of infrastructure-led exploration in the Otway Basin.
The well has been plugged and abandoned, concluding Phase 1 of the program, with further evaluation required before any development decisions.
At the time of reporting, 3D Energi's share price was $0.10.