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3D Oil Limited ( (AU:TDO) ) has shared an update.
3D Energi Limited has successfully secured $14.5 million through a placement supported by both domestic and international investors. The funds will be used for testing and drilling activities in the Otway Basin, specifically at the Essington-1 and Charlemont-1 wells, as well as for general working capital. This capital raise is part of a larger strategy to advance the company’s gas exploration program, which has been in development for over a decade, and aims to meet current and future energy needs in Australia.
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. The company is involved in drilling and testing activities aimed at identifying commercially viable natural gas reserves to support Australia’s East Coast market.
Average Trading Volume: 1,445,526
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$71.2M
See more insights into TDO stock on TipRanks’ Stock Analysis page.