3D Energi Limited has unveiled an extensive update on its gas prospectivity in the Otway Basin, highlighting a renewed focus on delivering a substantial new supply to meet Australia’s growing energy needs. The company is preparing to launch the Otway Exploration Drilling Program in the third quarter of 2025, with plans to drill up to six exploration wells across two offshore petroleum titles. These efforts aim to identify commercial gas reserves that could help secure and complement the East Coast gas market during a period when peak-day and seasonal gas shortfalls are forecast for Victoria and neighboring states. The updated resource assessment identifies 51 drillable prospects across the portfolio, aggregating to a mean prospective resource of 9.2 trillion cubic feet of gas on a gross basis. Notably, the Charlemont Cluster emerges as a key near-term target with seven amplitude-supported prospects and a mean gross resource of about 1 trillion cubic feet. Success in this area could potentially deliver up to 1070 petajoules of gas—enough to cover nearly six years of Victoria’s current gas consumption. This cluster benefits greatly from recent 3D seismic reprocessing, which has significantly enhanced imaging quality, upgraded identification of direct hydrocarbon indications, and improved drilling confidence. Advanced seismic workflows have underpinned the technical evaluation across a portfolio covering approximately 7,265 square kilometers, where 3D Energi holds a 20% interest. The company’s method combines legacy 2D datasets with state-of-the-art 3D seismic surveys, including recent surveys targeting the Regia, Flanagan, and frontier clusters. While the Flanagan and Regia Clusters are seen as pathways for expansion with considerable upside potential, other areas such as the Whistler Point, British Admiral, and Seal Rocks clusters offer more exploratory, high-risk opportunities that could, if successful, add significant volumes to the company’s projected resource base. Technical indicators such as Direct Hydrocarbon Indications and calculated Geological Chance of Success figures—ranging from 47% to over 80% in select prospects—support an optimistic outlook on near-term drilling success, particularly within low-risk and infrastructure-proximate clusters like Charlemont. In contrast, some frontier targets face challenges including greater distances from existing infrastructure and uncertainties related to deeper reservoir quality and sealing integrity. From a market perspective, bullish sentiment focuses on the strong technical underpinning and near-term potential of the Charlemont Cluster, as well as the strategic relevance of new gas supply given impending energy shortages in Victoria. Investors might view the upcoming drilling campaign and 3D Energi Limited’s disciplined, data-driven exploration strategy as key value drivers in a market hungry for secure energy sources. Conversely, bearish concerns include the inherent exploration risks attached to unrisked prospective resources and technical uncertainties in the higher-risk clusters. The transition from initial prospectivity to commercial development remains contingent on further drilling success and the overcoming of challenges associated with frontier exploration and infrastructure connectivity. Overall, 3D Energi Limited’s announcement points to a robust and diversified exploration strategy with a balanced mix of low-risk near-term opportunities and high-reward frontier exploration. The combination of advanced seismic technologies, strong prospective resources, and the urgency of meeting future gas demand on the East Coast positions the company advantageously in a promising yet challenging market environment.