Hibiscus to decide on Gippsland exploration with 3D Oil
Malaysian oil and gas independent Hibiscus Petroleum has secured an option to become a joint venture partner with 3D Oil to acquire up to a 50 per cent non-operated interest in the VIC/P74 permit in the offshore Gippsland Basin.
Hibiscus announced this development to the market after 3D Oil was awarded the permit for VIC/P74 last week by the National Offshore Petroleum Titles Administrator (NOPTA).
The 1006km2 permit is located on the southern side of the Gippsland Basin, adjacent to...