Australia's 3D Oil surges on exploration permit award

3D Energi

04/02/2022 01:23

** Shares of 3D Oil Ltd  TDO.AX  surge as much as 16.7% to
A$0.056, post their biggest intraday pct gain since Nov. 4
    ** Oil explorer says it has been awarded by National
Offshore Petroleum Titles Administrator a VIC/P79 exploration
permit containing the Vanguard gas prospect in the offshore
Otway Basin, South Australia   urn:newsml:reuters.com:*:nFWN2UE1DF
    ** Co says Vanguard has prospective direct hydrocarbon
indicators, thereby shortening exploration time frame to
drilling  
    ** Nearly 1 mln shares change hands, 4.2 times the 30-day
average volume of 237,581 
    ** Stock hits highest level since Jan. 5
    ** Stock down 14.3% this year, as of last close

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))