3D Oil Limited announced that ConocoPhillips Australia has issued a Letter of Award securing the Transocean Equinox drilling rig for an exploration drilling program in exploration permits VIC/P79 and T/49P in the Otway Basin. ConocoPhillips Australia is the Operator of the two exploration permits in which 3D Oil has a 20% interest in both. Highlights.

ConocoPhillips Australia has issuing a Letter of Award for the Transocean Equinx semi-submersible rig to drill two firm exploration wells. The Letter of Award allows for two firm wells with an additional 120 days of optional drilling. Timing of exploratory drilling is dependent on rig availability.

Currently the rig is expected to arrive in the first quarter of 2025.