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3D Oil Limited ( (AU:TDO) ) has issued an update.
3D Energi Limited has commenced drilling at the Essington-1 gas exploration well, marking the start of the Otway Exploration Drilling Program. The program targets significant natural gas reserves in the Waarre C and Waarre A reservoirs, with the potential to enhance Australia’s East Coast gas supply. The drilling operation is expected to last 32 days, and success could significantly impact the company’s resource base and contribute to meeting future energy needs.
More about 3D Oil Limited
3D Energi Limited is a company involved in the energy sector, specifically focusing on exploration and development of natural gas resources. The company holds a 20% participating interest in the Otway Exploration Drilling Program, which aims to supply gas to Australia’s East Coast market.
Average Trading Volume: 649,613
Technical Sentiment Signal: Buy
Current Market Cap: A$50.26M
See more insights into TDO stock on TipRanks’ Stock Analysis page.