prawn_86
Mod: Call me Dendrobranchiata
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Catman,
Instead of just commentating what is going on in the market why dont you provide some analysis and reasons as to why this is a stock to watch.
this might help stimulate some discussion for you
thanks
Prawn
Instead of just commentating what is going on in the market why dont you provide some analysis and reasons as to why this is a stock to watch.
this might help stimulate some discussion for you
thanks
Prawn
The email velow pretty much sums things up Prawn, from Noel Newell TDO's MD as posted from another forum mid 2007.
"3D Oil is one of a number of companies which have contracted the West
Triton jackup. This rig is currently being built in Singapore and when
complete will be towed to Bass Strait. It's original delivery date, when
the prospectus was written, was December 2007. Due to normal delays with
these sort of projects delivery is not expected until January/February.
Further, 3D Oil were originally to drill first but we have decided to let
Apache go first due to the problems often associated with new rigs. It is
often referred to as rig shakedown.
We will immediately follow Apache's 3 well program which may well be in
March or perhaps April.
Your other question is a little more difficult to answer. We are very
confident that we will develop West Seahorse however we do need more data
on the field, to be acquired from the W SH-3 [West Seahorse 3], to certain of the way forward. Unfortunately the West Seahorse-1 well collected minimal data so there are still many unknowns on the field. Having said that we are extremely optimistic and believe the volumes supplied for the IPO were
quite conservative. We have kicked off a number of initiatives including a
high level review of the facilities and location for these.
I hope these answers have been useful and please contact me if you have
any other questions
cheers
Noel Newell
Managing Director
3D Oil"
...although I may be wasting my time here as it seems that no one has had a long look at TDO.
oh well..
"3D Oil is one of a number of companies which have contracted the West
Triton jackup. This rig is currently being built in Singapore and when
complete will be towed to Bass Strait. It's original delivery date, when
the prospectus was written, was December 2007. Due to normal delays with
these sort of projects delivery is not expected until January/February.
Further, 3D Oil were originally to drill first but we have decided to let
Apache go first due to the problems often associated with new rigs. It is
often referred to as rig shakedown.
We will immediately follow Apache's 3 well program which may well be in
March or perhaps April.
Your other question is a little more difficult to answer. We are very
confident that we will develop West Seahorse however we do need more data
on the field, to be acquired from the W SH-3 [West Seahorse 3], to certain of the way forward. Unfortunately the West Seahorse-1 well collected minimal data so there are still many unknowns on the field. Having said that we are extremely optimistic and believe the volumes supplied for the IPO were
quite conservative. We have kicked off a number of initiatives including a
high level review of the facilities and location for these.
I hope these answers have been useful and please contact me if you have
any other questions
cheers
Noel Newell
Managing Director
3D Oil"
...although I may be wasting my time here as it seems that no one has had a long look at TDO.
oh well..
Overview
3D Oil’s formation was motivated by an initial focus on the Gippsland Basin which has been one of the most prolific oil and gas producing region in Australia. The Company’s strategy is to target a combination of favourable technical and commercial considerations including:
• the availability of a high quality 3D seismic survey over the Northern Margin of the Gippsland Basin;
• the current oil market favouring the development of underexploited oil fields; and
• the opening up of the Victorian gas market favouring the development of underexploited gas fields.
Initially the Company aims to appraise and develop the Proved and Probable Reserves and Contingent Resources in the West Seahorse oil field totalling 10.3MMstb (on a best estimate basis) of which approximately 85% is within VIC/P57. The West Seahorse Field is located approximately two kilometres to the west of the producing Seahorse Oil Field and flanked by several other fields including the Wirrah and Moonfish Oil Fields. Upon the successful completion of the West Seahorse-3 well the Company intends to commence Front End Engineering and Design (FEED) and review funding options for the development of the Field. It is anticipated that the construction of the production facilities would commence in 2008.
The oil in the West Seahorse Field is typical of the Gippsland Basin fields, and the Company anticipates that oil will be easily producible. It is a light crude (48 ° API) with a low gas to oil ratio and anticipated strong water drive within the reservoir.
The Company also plans to drill an exploration well at the Sea Lion Prospect with Prospective Resources of 20.7 MMstb (best estimate) in the Gippsland Basin Permit. Exploration for oil and gas assets in VIC/P57 will benefit from the 2003 Northern Margin 3D seismic survey which covers approximately 70% of the Permit revealing an array of prospects and leads including Sea Lion and the Felix Prospect. The Prospective Resources for the Felix Prospect is 6.9 MMstb (best estimate).
In the Bass Basin Permit the Company plans to acquire 2D Seismic to rank and select a candidate for drilling. The Permit is located approximately 60 kilometres to the east of the Yolla Field which has published reserves of 330 PJ of sales gas, and 28 MMbbl of oil and condensate. Of the five leads currently identified within T41-P, the Darymple Lead displays a strong seismic anomaly characteristic of a gas accumulation. The unrisked Prospective Resources for the Darymple Lead are 74 STOIIP MMstb (best estimate) or 75 GIIP Bscf (best estimate).
3D Oil’s formation was motivated by an initial focus on the Gippsland Basin which has been one of the most prolific oil and gas producing region in Australia. The Company’s strategy is to target a combination of favourable technical and commercial considerations including:
• the availability of a high quality 3D seismic survey over the Northern Margin of the Gippsland Basin;
• the current oil market favouring the development of underexploited oil fields; and
• the opening up of the Victorian gas market favouring the development of underexploited gas fields.
Initially the Company aims to appraise and develop the Proved and Probable Reserves and Contingent Resources in the West Seahorse oil field totalling 10.3MMstb (on a best estimate basis) of which approximately 85% is within VIC/P57. The West Seahorse Field is located approximately two kilometres to the west of the producing Seahorse Oil Field and flanked by several other fields including the Wirrah and Moonfish Oil Fields. Upon the successful completion of the West Seahorse-3 well the Company intends to commence Front End Engineering and Design (FEED) and review funding options for the development of the Field. It is anticipated that the construction of the production facilities would commence in 2008.
The oil in the West Seahorse Field is typical of the Gippsland Basin fields, and the Company anticipates that oil will be easily producible. It is a light crude (48 ° API) with a low gas to oil ratio and anticipated strong water drive within the reservoir.
The Company also plans to drill an exploration well at the Sea Lion Prospect with Prospective Resources of 20.7 MMstb (best estimate) in the Gippsland Basin Permit. Exploration for oil and gas assets in VIC/P57 will benefit from the 2003 Northern Margin 3D seismic survey which covers approximately 70% of the Permit revealing an array of prospects and leads including Sea Lion and the Felix Prospect. The Prospective Resources for the Felix Prospect is 6.9 MMstb (best estimate).
In the Bass Basin Permit the Company plans to acquire 2D Seismic to rank and select a candidate for drilling. The Permit is located approximately 60 kilometres to the east of the Yolla Field which has published reserves of 330 PJ of sales gas, and 28 MMbbl of oil and condensate. Of the five leads currently identified within T41-P, the Darymple Lead displays a strong seismic anomaly characteristic of a gas accumulation. The unrisked Prospective Resources for the Darymple Lead are 74 STOIIP MMstb (best estimate) or 75 GIIP Bscf (best estimate).
Big week to come for TDO - the rig is coming and West Seahorse begins. With drilling commencing (I think), over the weekend, I hope to see this rise and rise. With known resources, and the prospect of more to be found, this one will hopefully show significant rises in the coming weeks and months!!
springhill
Make the drill work for YOU
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MC - $13m
SP - 6.5c
Shares - 206m
Options - NQ
Cash - $1.6m (Before Hibiscus deal)
A$29 million farm-in and capital raising in VIC/P57 from Hibiscus Petroleum
● Hibiscus Petroleum will invest A$27m to predominantly fund the progress of the West Seahorse field
● Hibiscus Petroleum will acquire 50.1% in VIC/P57
● Hibiscus Petroleum will take a 13% cornerstone investment in 3D Oil for approximately A$2.0m
● Hibiscus Petroleum will be preferentially entitled to receive 74.9% of petroleum produced from the permit until the sales revenue equals the amount funded by Hibiscus Petroleum
● Hibiscus Petroleum will assume operatorship of the permit
● Dr Kenneth Pereira, Managing Director of Hibiscus Petroleum, will join the Board of 3D Oil
● Funds of up to A$29m from the subscription and farm-in investment will be used principally to develop the West Seahorse oil field
● Sea Lion prospect is targeted for exploration drilling on a best endeavours basis
SP - 6.5c
Shares - 206m
Options - NQ
Cash - $1.6m (Before Hibiscus deal)
A$29 million farm-in and capital raising in VIC/P57 from Hibiscus Petroleum
● Hibiscus Petroleum will invest A$27m to predominantly fund the progress of the West Seahorse field
● Hibiscus Petroleum will acquire 50.1% in VIC/P57
● Hibiscus Petroleum will take a 13% cornerstone investment in 3D Oil for approximately A$2.0m
● Hibiscus Petroleum will be preferentially entitled to receive 74.9% of petroleum produced from the permit until the sales revenue equals the amount funded by Hibiscus Petroleum
● Hibiscus Petroleum will assume operatorship of the permit
● Dr Kenneth Pereira, Managing Director of Hibiscus Petroleum, will join the Board of 3D Oil
● Funds of up to A$29m from the subscription and farm-in investment will be used principally to develop the West Seahorse oil field
● Sea Lion prospect is targeted for exploration drilling on a best endeavours basis
Attachments
greggles
I'll be back!
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Huge breakout for 3D Oil today after the release of their June 2018 Quarterly Activities Report.
I have no real knowledge of this company and didn't read through the report in any great detail but couldn't ignore today's move north, up 64.47% to 12.5c!
I have no real knowledge of this company and didn't read through the report in any great detail but couldn't ignore today's move north, up 64.47% to 12.5c!
greggles
I'll be back!
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3D Oil up another 33.33% to 14c today. It finished the day at its high. High volume of 1.83 million shares. Looking very bullish.
greggles
I'll be back!
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Quite a bit of volatility for 3D Oil since the beginning of last week. After climbing from 10c to 20c in just a few trading sessions, it quickly retraced back to 10c over the next week, albeit on low volume.
Today it climbed back to 15.5c after reaching an intraday high of 18c. Volume was quite heavy today so it wouldn't surprise me to see it back at 20c in the next couple of days.
Today it climbed back to 15.5c after reaching an intraday high of 18c. Volume was quite heavy today so it wouldn't surprise me to see it back at 20c in the next couple of days.
Dona Ferentes
A little bit OC⚡DC
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After selling an 80 per cent stake in the T49P permit in the Otway Basin to Conoco, 3D Oil expects the joint venture will push ahead with a seismic survey followed by a potential exploration well in 2022.
3D, which has owned the 5000sq km permit since 2013, now owns a 20 per cent interest in the shallow water tenement and says the timing is right to push forward with exploration as majors pull back on activity in the Bass Strait amid dwindling production.
A 3D Oil study conducted with contractor Worley assessing a range of options has been handed to Conoco. Mr Newell, a former BHP executive, said the venture could make a 400 billion cubic feet of gas project economic by connecting to existing infrastructure or should it reach 1 trillion cubic feet it may look to deliver gas onshore.
Conoco originally approached 3D over its WA527P permit in Western Australia’s Bedout sub-basin, located next to Santos’ giant Dorado gas project, where the junior is looking to sell some of its 100 per cent stake.
Instead the US major, which owns a 37.5 per cent stake in Queensland’s APLNG project, opted to open talks on the Otway opportunity given the expected gas shortfall forecast for Australia’s southern states in the next few years.
3D Oil said gas from conventional offshore basins will offer a more competitive source of supplies than planned LNG imports projects mooted in Victoria and NSW.
- I thought Conoco was retreating from Australia, having sold Darwin LNG stake to Santos.
(used to own some TDO in the W Seahorse days; the company has always been operating on the smell of an oily rag, and not really successful Noel N's plaything)
3D, which has owned the 5000sq km permit since 2013, now owns a 20 per cent interest in the shallow water tenement and says the timing is right to push forward with exploration as majors pull back on activity in the Bass Strait amid dwindling production.
“This block is in shallow water and frontier style but is also on the east coast and close to infrastructure,” Mr Newell said, referencing Beach Energy’s Thylacine and Geographe wells and Cooper Energy’s Annie gas discovery which could provide a path to market for the duo’s gas should they prove successful.
A 3D Oil study conducted with contractor Worley assessing a range of options has been handed to Conoco. Mr Newell, a former BHP executive, said the venture could make a 400 billion cubic feet of gas project economic by connecting to existing infrastructure or should it reach 1 trillion cubic feet it may look to deliver gas onshore.
Conoco originally approached 3D over its WA527P permit in Western Australia’s Bedout sub-basin, located next to Santos’ giant Dorado gas project, where the junior is looking to sell some of its 100 per cent stake.
Instead the US major, which owns a 37.5 per cent stake in Queensland’s APLNG project, opted to open talks on the Otway opportunity given the expected gas shortfall forecast for Australia’s southern states in the next few years.
3D Oil said gas from conventional offshore basins will offer a more competitive source of supplies than planned LNG imports projects mooted in Victoria and NSW.
- I thought Conoco was retreating from Australia, having sold Darwin LNG stake to Santos.
(used to own some TDO in the W Seahorse days; the company has always been operating on the smell of an oily rag, and not really successful Noel N's plaything)
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Dona Ferentes
A little bit OC⚡DC
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How many years did Noel Newell spend trying to bring marginal Bass Strait oil accumulations to market? He never seemed to get any projects to fruition, without surrendering control, or giving away the upside. Now there is excitement in the West.
Pavo light oil discovery upgrades analogous Dorado/Apus play in WA-527-P, Bedout Sub-Basin
• Pavo 1 exploration well has made a significant light oil (~52°API) discovery within excellent reservoirs of the Caley Member, with 46m net pay (60m gross), 19% average porosity, 80% average oil saturation with high permeabilities of 100-1000 millidarcies reported.
• Pavo 1 de-risks uncertainties around source presence and hydrocarbon migration away from existing discoveries and towards the basin margin, and supports migration to any erosional truncation leads in WA-527-P.
• Pavo 1 confirms the presence and effectiveness of Hove Member top/lateral seals along trend from WA-527-P, where the top seal is thinning out of the basin.
• The planned Sauropod 3D seismic survey will image potential erosional channel features and support the definition of potential traps within WA-527-P.
Dona Ferentes
A little bit OC⚡DC
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... and snared a big'un. Up from 4.6c to 6.0c
- 3D Oil farmout 80% interest in VIC/P79 and operatorship to ConocoPhillips Australia
- 3D Oil to receive cash payment of USD$3 million (~AUD$4.351 million) and be carried for the first USD$35 million (~AUD$50.751 million) of well costs
- VIC/P79 permit has primary term minimum work commitment of a single exploration well by February 2025
JohnDe
La dolce vita
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Good time to own oil & energy shares, but for how long?
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On November 30th, 2023, 3D Oil Limited changed its name to 3D Energi Limited.
