Australia's 3D Oil jumps on seismic survey data acquisition, potential gas prospects

3D Energi

01/03/2021 03:14

** Shares of 3D Oil Ltd  TDO.AX  rise as much as 7.8% to
$0.055, notch their biggest intraday jump since Jan 8
    ** The oil and gas explorer says its unit with its partner
ConocoPhillips Australia SH1 (COP) contracted the Shearwater
vessel, Geo Coral, to acquire the Sequoia 3D seismic survey
 urn:newsml:reuters.com:*:nASX7jclnk
    ** Says 3D seismic acquisition will help identify high-grade
gas prospects in the T/49P permit, adding COP may elect to drill
an exploration well after the acquisition with co to bear up to
$30 mln in drilling costs  
    ** Stock hits highest since Feb 12
    ** Stock down 1.9% this year, as of last close
    
  
    ($1 = 1.2606 Australian dollars)


 (Reporting by Ananya Pande in Bengaluru)
 ((ananya.pande@thomsonreuters.com))