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AUSTRALIA

3D Oil gets a little help from its friends

3D OIL has executed a largely non-binding heads of agreement with Carnarvon Hibiscus, Althea Corporation and HiRex Petroleum in order to see its Gippsland Basin tenements obligations met.

Andrew Snelling
3D Oil gets a little help from its friends

3D holds a 49.9% interest in the offshore VIC/P57 and VIC/L31 permits, working with operator Carnarvon Hibiscus, which owns the remaining 50.1%. Slower than anticipated progress on funding for the West...

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