Australia's 3D Oil rises after Hibiscus Petroleum receives nod to enter JV

3D Energi

09/10/2020 01:47

** Shares of 3D Oil Ltd  TDO.AX  jump as much as 14% to
A$0.065, their biggest intraday percentage gain since Sept 25
    ** The oil and gas explorer says National Offshore Petroleum
Titles Administrator approved Hibiscus Petroleum Berhad to enter
into a JV with co in the offshore Gippsland Basin exploration
permit VIC/P74  urn:newsml:reuters.com:*:nASX8M2KYZ
    ** Under the terms of agreement, TDO will remain as operator
of the permit with 50% equity
    ** Stock down 40% this year, as of last close
    
    

 (Reporting by Nikhil Subba in Bengaluru)
 ((Nikhil.Subba.thomsonreuters.com@reuters.net))