3D Oil sells West Seahorse stake

3D Oil Limited has advised that Carnarvon Hibiscus Pty Ltd has exercised the VIC/L31 Option to acquire the VIC/L31 Remaining Interest, offshore Australia, from 3D Oil Limited for a consideration of USD 14.05 million.

The payment of the VIC/L31 Option Consideration and the completion of the acquisition of the VIC/L3 Remaining Interest (together with the completion of VIC/L31 Sale Interest pursuant to the VIC/L31 SPA) will be effected subsequent to the relevant approvals being obtained from NOPTA.

Upon completion of the transfer, TDO will have no remaining interest and no further obligations to VIC/L31, offshore Australia, which contains the West Seahorse oil field, and CHPL will hold 100% interest.

Related: Hibiscus Petroleum Buys Stake in 3D Oil’s VIC/P57 (Australia)

The Company will remain a participant in the VIC/P57 permit with an equity level of 24.9% or 44.9% dependent on whether HiRex exercise the option to participate in the permit. The Joint Venture is currently planning to drill the Sea Lion Prospect in the first half of 2015.

 

Press Release, August 18, 2014

 

Share this article

Follow Offshore Energy Today

Events>

<< Mar 2019 >>
MTWTFSS
25 26 27 28 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

16th MOSCOW INTERNATIONAL OIL AND GAS EXHIBITION

The Moscow International Oil & Gas Exhibition display products like oil and gas products, oil and gas services…

read more >

Beijing International Offshore Oil & Gas Exhibition (ciooe) 2019

Beijing International Offshore Oil & Gas Exhibition (ciooe), is a regular gathering in oil & gas industry…

read more >

Lebanon International Oil & Gas Summit 2019

LIOG 2019 will delve further into the opportunities that are present in Lebanon’s energy sector…

read more >

Atyrau Oil & Gas 2019

The event program is dedicated to the most topical issues of search, exploration, development of hydrocarbons…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply