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The latest announcement is out from 3D Oil Limited ( (AU:TDO) ).
3D Energi Limited has commenced the mobilisation of the Transocean Equinox drilling rig for the Essington-1 gas exploration well in the Otway Basin, marking a significant step in its strategy to enhance gas supply to Australia’s East Coast market. The Essington-1 well targets a combined prospective resource of 262 Bcf in the Waarre C and Waarre A reservoirs, with drilling operations expected to last approximately 32 days, potentially impacting the company’s market position and stakeholder interests by contributing to energy supply needs.
More about 3D Oil Limited
3D Energi Limited is a company operating in the energy sector, focusing on the exploration and development of natural gas resources. It 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: 574,229
Technical Sentiment Signal: Buy
Current Market Cap: A$46.07M
See more data about TDO stock on TipRanks’ Stock Analysis page.