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3D Oil Limited ( (AU:TDO) ) has provided an update.
3D Energi Limited has announced an upcoming exploration drilling program in the Otway Basin, aiming to drill up to six wells within two offshore petroleum titles. This initiative seeks to identify commercial gas reserves to supply the East Coast market. The updated prospective resource estimate indicates a multi-TCF potential, with the Charlemont Cluster identified as a high-graded target. If successful, the Charlemont Cluster could significantly impact the East Coast gas market, potentially supplying up to six years of Victoria’s total gas consumption.
More about 3D Oil Limited
3D Energi Limited is a company operating in the energy sector, focusing on the exploration and development of petroleum resources. The company is engaged in identifying and developing gas reserves to support Australia’s energy needs, particularly targeting the East Coast market.
Average Trading Volume: 160,152
Technical Sentiment Signal: Buy
Current Market Cap: A$38.35M
For a thorough assessment of TDO stock, go to TipRanks’ Stock Analysis page.