The latest update is out from 3D Oil Limited ( (AU:TDO) ).
3D Energi Limited has achieved a significant milestone with the acceptance of its Environment Plan for the Otway Exploration Drilling Program by NOPSEMA, Australia’s offshore energy regulator. This approval allows the drilling of up to six exploration wells in the Otway Basin, with the first phase expected to begin in 2025. The project is crucial for addressing the declining gas production in the Bass Strait and the east coast energy crisis, potentially positioning 3D Energi as a key player in the region’s energy market.
More about 3D Oil Limited
3D Energi Limited operates in the offshore energy sector, focusing on exploration and development of natural gas resources. The company is involved in joint ventures to explore offshore permits in the Otway Basin, aiming to address energy needs on Australia’s east coast.
YTD Price Performance: 6.52%
Average Trading Volume: 231,757
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: A$32.68M
Learn more about TDO stock on TipRanks’ Stock Analysis page.