Tuesday 16 February 2021

A series of Leads with a total Best Estimate Prospective Resource of 370 MMboe have been delineated by interpretation of newly reprocessed seismic data and the completion of detailed depth conversion studies.

The largest is the Bigfin Lead which is hosted within the Lower Latrobe Group and has a Best Estimate Prospective Resource of 502 Bcf and 19 MMbbls of condensate. Bigfin is located approximately 8km West of the Kingfish Oil Field which has produced over 1 billion bbls to date. 

An additional three Leads also hosted by the Lower Latrobe Group have a total  best Estimate Prospective Resource of 785 Bcf gas.

Two of these Leads are also considered prospective for oil within the Upper Latrobe Group with a combined Best Estimate Prospective Resource of 98 MMbbls.

3D Oil Limited “TDO” is pleased to announce that it has completed an estimate of the Prospective Resources for Leads and Prospects within the VIC/P74 exploration permit. TDO is operator (50%) of the Joint Venture “JV” with its partner Carnarvon Hibiscus Pty Ltd, an indirect wholly owned subsidiary of Hibiscus Petroleum Berhad “CHPL”. The permit is located along the southern terrace of the prolific Gippsland Basin, adjacent to Kingfish field, the largest ever offshore oil discovery in Australia.