3D Energi Confirms Natural Gas Discovery in Offshore Otway Basin; Shares Reach 14-Year High

MT Newswires Live11-20

3D Energi (ASX:TDO) confirmed a natural gas discovery within the Waarre C and Waarre A reservoirs at its Essington-1 exploration well in the offshore Otway Basin, according to a Thursday filing with the Australian bourse.

The discovery is validated by the recovery of representative gas samples during modular formation dynamics testing, which supports drilling observations, preliminary petrophysical interpretation, and pressure data, the filing said.

Ora wireline formation testing will be conducted to gather more gas samples and evaluate reservoir deliverability, per the filing.

Shares rose 11% in afternoon trade on Thursday and earlier reached their highest since May 2011.

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