3D Oil jumps most in over 2 years on agreement with ConocoPhillips Australia

3D Energi

01/07/2022 02:17

** Shares of 3D Oil  TDO.AX  soar up to 34.8% to A$0.062,
posting its sharpest gains since May 11, 2020 
    ** Oil explorer says it executed a farmount agreement with
ConocoPhillips Australia SH2  urn:newsml:reuters.com:*:nFWN2YH1U2
    ** Says agreement is for the offshore Victorian Exploration
Permit in Otway Basin
    ** Says under agreement ConocoPhillips Australia will buy
80% interest in the permit and operator ship with a upfront
payment of $3 million
    ** Stock hits its highest since April 19 
    ** TDO is down 13.2% this year as of last close 
    


 (Reporting by Navya Mittal in Bengaluru)
 ((navya.mittal@thomsonreuters.com))