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An announcement from 3D Oil Limited ( (AU:TDO) ) is now available.
3D Energi Limited has reported an operational update on the Charlemont-1 gas exploration well in the offshore Otway Basin, where it holds a 20% interest alongside operator ConocoPhillips Australia and Korea National Oil Company. Drilling intersected significant gas shows in the Waarre C formation above the primary Waarre A target, and after encountering higher-than-expected pressures at 2,552 metres, the well design has been revised to include a 7-inch liner, allowing drilling to proceed toward the main reservoir after a roughly seven-day delay, with further updates to come as key milestones are reached.
The most recent analyst rating on (AU:TDO) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on 3D Oil Limited stock, see the AU:TDO Stock Forecast page.
More about 3D Oil Limited
3D Energi Limited is a Melbourne-based oil and gas exploration company with high-impact projects focused on offshore Victoria and Western Australia, targeting conventional gas resources in basins such as the Otway to support regional energy markets.
Average Trading Volume: 1,932,745
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$78.63M
For a thorough assessment of TDO stock, go to TipRanks’ Stock Analysis page.