They traded away one of their oil permits but still hold another, and more.
They own 29% of oil prospect area VIC/L31 and VIC/P57. To get funding TDO had to sell off a part of their interest in VIC/L31 with an option for Hibiscus to buy the permit outright. TDO still has their share of oil permit VIC/P57.
Further more, TDO still owns 100% of T/49P.
T/49P is a large gasfield area close to the Victorian coast, and close to existing pipeline infrastructure. They could find a partner to develop these fields. With the skyrocketing gas price It 'll be interesting to see what happens to TDO and the share price next year.
TDO Price at posting:
7.0¢ Sentiment: Hold Disclosure: Held
