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