3D Oil continues to progress its discussions with financiers to assist with the development of West Seahorse. Feedback to date have been encouraging, notwithstanding the prevailing challenging economic environment.
In terms of 3D Oil’s exploration activities, progress has recently been made within the Vic/P57 permit with identification of new leads, Lucifer and Kangafish; and at least nine significant leads have been delineated by the new seismic data held for the T41-P permit.
3D Oil continues to thoroughly assess and develop its lead and prospect portfolio. 3D Oil currently has at least two drillable quality prospects in Vic/P57 while T41-P has an array of leads some with associated seismic anomalies not dissimilar to those displayed at the nearby Yolla gas/condensate field. 3D Oil is actively seeking suitable partners in both permits for a leveraged position to share the risk of ongoing exploration efforts.
