3D Oil has flagged four potential leads with a best estimate prospective resources of 370 MMboe in the Gippsland Basin.
This follows completion of an estimate of prospective resources for leads and prospects in the VIC/P74 exploration permit.
3D Oil said the largest is the Bigfin Lead, which is hosted within the Lower Latrobe Group and has a Best Estimate Prospective Resource of 502 Bcf and 19 MMbbls of condensate. Bigfin is located approximately 8km West of the Kingfish Oil Field which has produced over one billion barrels to date.
An additional three Leads also hosted by the Lower Latrobe Group have a total Best Estimate Prospective Resource of 785 Bcf gas.
Two of these Leads are also considered prospective for oil within the Upper Latrobe Group with a combined Best Estimate Prospective Resource of 98 MMbbls.
3D Oil is operator (50%) of the Joint Venture “JV” with its partner Carnarvon Hibiscus.