Production Licence awarded over West Seahorse Oil Field

abarrelfullabarrelfull wrote on 03 Sep 2015 06:22

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6 December 2013

3D Oil Limited (ASX: TDO) is pleased to announce that the National Offshore Petroleum Titles Administrator (NOPTA) has awarded the VIC/P57 Joint Venture (JV) a Production Licence, VIC/L31, over the West Seahorse (WSH) oil field in the offshore Gippsland Basin.

The Production Licence award provides significant certainty to the WSH project. A Final Investment Decision is currently expected early in 2014.

WSH is being developed for production in early 2015 by the JV comprised of TDO 49.9% and Carnarvon Hibiscus Pty Ltd (Hibiscus), a wholly owned subsidiary of Hibiscus Petroleum Berhad (KLSE: HIBISCUS), as Operator with 50.1%.

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