3D Oil Awarded gas exploration licence in South Australia
- 3D Oil (TDO) receives the GSEL 759 gas storage exploration licence by the South Australian Department for Energy and Mining in the onshore Otway Basin
- The grant of the licence is part of an emerging broader energy strategy for the company in a time of an impending energy crisis in Eastern Australia and the transition in the domestic and global energy sector
- “The company is developing strategies to offer more diversified energy solutions,” Mr Newel said.
- Over the next few months, 3D Oil will undertake technical work to gain a better understanding of the reservoirs’ sustainability for gas storage applications
- Shares in 3DOil are up 5.88 per cent and trading at 5.4 cents at 2:01 pm AEST
