3D Energi Enhances Flexibility in Otway Basin Ventures

3D Oil Limited (AU:TDO) has released an update.

3D Energi Limited has strategically renegotiated its farmout agreements with ConocoPhillips Australia, allowing greater flexibility in applying a US$30M well carry obligation across two permits in the Otway Basin. The amendment aligns with an evolving strategy to expedite the path to commercial projects by optimizing exploration drilling decisions based on infrastructure proximity and resource estimates. No new costs have been incurred by 3D Energi due to these amendments, which aim to target the most commercially viable prospects and contribute to addressing the urgent need for gas on the Australian East Coast.

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