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3D Oil Limited ( (AU:TDO) ) has provided an announcement.
3D Energi Limited announced the completion of a $9.4 million placement to fund its exploration campaign, specifically the drilling of the Essington-1 well in the Otway Basin. The company confirmed the locations for its Phase 1 exploration wells and commenced anchor pre-lay operations for the Transocean Equinox rig. The entry of Korea National Oil Corporation into the joint venture with ConocoPhillips strengthens the project’s technical and financial capabilities, positioning 3D Energi for a transformative phase in its operations.
More about 3D Oil Limited
3D Energi Limited is an exploration company operating in the oil and gas industry. The company focuses on offshore exploration projects in Australia, particularly in the Otway Basin and the Northwest Shelf. It holds a significant interest in exploration permits in these regions, aiming to identify substantial gas reserves to supply the East Coast market.
Average Trading Volume: 317,718
Technical Sentiment Signal: Buy
Current Market Cap: A$41.68M
For a thorough assessment of TDO stock, go to TipRanks’ Stock Analysis page.