Wildcatter Podcast: What is an AVO anomaly? And why is it crucial for oil and gas investors to understand?
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Stock analysis veteran and lover of the oil and gas game, Peter Strachan, is back in the radio booth for another instalment of The Wildcatter Podcast.
In this episode Peter chats with Noel Newell, executive chairman of the technology driven petroleum explorer 3D Oil (ASX:TDO).
Late in 2019, TDO signed a farm-in deal over its 100% held southern Otway Basin permit T-49-P with US independent, Conoco Philips (CoP).
CoP has agreed to acquire seismic data with an option to drill a well with total spending, including $5 million for TDO’s back costs, estimated at about $67 million. The company has already outlined prospects ad leads with potential to deliver Prospective Resources of about 10 trillion cubic feet of gas into the high value, East Coast Australian gas market.
TDO is also planning to acquire a seismic survey over a 100% permits adjacent to the Santos/Carnarvon Dorado oil discovery.
With a market capitalisation of ~$22 million and $5 million of cash, the stock has strong leverage to exploration success at any of its three major project areas in the Otway, Gippsland and Bedout sub-Basin.
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