3D Oil Limited (AU:TDO) has released an update.
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3D Energi Limited has announced significant progress in its preparations for the 2025 Otway Exploration Drilling Program with the contracting of essential drilling equipment. The company, holding a 20% interest in the joint venture, is carried by ConocoPhillips Australia for up to $65 million in drilling costs. The procurement of items such as subsea wellheads and conductor pipes is a step forward for the upcoming drilling of two gas exploration wells, with well location finalization dependent on ongoing 3D seismic studies.
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