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3D Oil Limited ( (AU:TDO) ) just unveiled an announcement.
3D Energi Limited has announced the commencement of the Otway Exploration Drilling Program, targeting the identification of commercial gas reserves in the offshore Otway Basin. The program, which includes up to six exploration wells, aims to supply the East Coast market and bolster Australia’s energy security. The entry of Korea National Oil Corporation into the joint venture and the arrival of the Transocean Equinox drilling rig mark significant progress in the project. With a large prospective resource identified, this initiative could enhance 3D Energi’s industry positioning and impact stakeholders by potentially increasing gas supply.
More about 3D Oil Limited
3D Energi Limited is an Australian company involved in exploration projects, focusing on offshore areas such as the Otway Basin in Victoria and Tasmania, as well as the Northwest Shelf. The company is part of a joint venture operated by ConocoPhillips Australia and holds interests in significant exploration permits aimed at identifying gas reserves to support Australia’s energy needs.
Average Trading Volume: 151,831
Technical Sentiment Signal: Buy
Current Market Cap: A$41.68M
See more insights into TDO stock on TipRanks’ Stock Analysis page.