WHAT EVER HAPPENED TO THIS STARTEGY ????????????????????
ASX Release
25 November 2009
Accelerated Growth Strategy – Delivering Results
On 3 September 2009 3D Oil Limited announced the launch of an Accelerated Growth Strategy which focuses on near term growth in shareholder value. This initiative comprises three primary elements: • Development - Evaluation of preferred development option for West Seahorse. • Exploration - Comprehensive analysis of the prospectivity of the company’s two permit areas. • Partnering & Financing - A structured process to introduce a business partner to progress exploration and development programs. 3D Oil is pleased to advise that all elements of the Accelerated Growth Strategy are progressing well. Features include: • Development - engineering work is progressing steadily in accordance with plan, with a view to development decision in early 2010. • Exploration - the Felix prospect has been defined, adding high impact potential to the broader exploration portfolio. Felix has potential to deliver over 100 million barrels of oil. • Partnering & Financing - a structured process is being pursued to attract a suitable joint venture partner to participate in our exploration and development program. The process is being managed by corporate advisors Core Energy Group. Ten parties have expressed interest, signed confidentiality agreements and are now actively engaged in an evaluation of the opportunity and discussions with the Company. 3D Oil is confident that a suitable partner will be identified in the near term.
TDO Price at posting:
9.5¢ Sentiment: Hold Disclosure: Not Held
