3D Energi (ASX:TDO) Otway Gas Exploration Strategy Connects Offshore Permits With Major Joint Venture

Aditi Sarkar

06 November 2026 02:54 PM AEDT

3D Energi (ASX:TDO) Otway Gas Exploration Strategy Connects Offshore Permits With Major Joint Venture

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Highlights

3D Energi holds a 20% interest in two offshore Otway Basin exploration permits.
ConocoPhillips Australia operates the VIC/P79 and T/49P permits with an 80% interest.
The company identifies prospective resources in its offshore gas exploration portfolio.
Its WA-527-P permit adds a separate exploration position in Western Australia’s Bedout Sub-basin.

3D Energi Limited (ASX:TDO) is pursuing potential new gas Supply through offshore exploration acreage in southeastern Australia. Its Otway Basin interests are held alongside operator ConocoPhillips Australia, creating a joint-venture structure that combines 3D Energi’s 20% share with the larger partner’s 80% interest. The programme is focused on prospects rather than an operating production field, and exploration wells are required to establish whether identified geological targets contain commercial hydrocarbons.

Two Otway Permits Create Multiple Exploration Opportunities

The offshore Otway portfolio comprises VIC/P79 and T/49P across waters near Victoria and Tasmania. The company’s project material identifies potential gas targets based on existing data and seismic analysis. VIC/P79 lies near discovered and producing gas infrastructure, while T/49P occupies acreage west of King Island. Proximity to infrastructure helps describe the exploration setting, but cannot establish a development or gas sales route before a discovery and technical assessment.

Farm-Out Structure Defines Carried Exploration Exposure

3D Energi’s agreements with ConocoPhillips include defined contributions towards exploration well costs. Official project material describes up to US$35 million of drilling carry for one VIC/P79 well and an optional US$30 million carry associated with T/49P. These figures relate to the specified joint-venture arrangements rather than unrestricted funding available to 3D Energi. Future obligations and work programmes remain governed by permit terms and partner decisions.

Outlook: Drilling Decisions Are the Next Test

The company also operates WA-527-P in Western Australia’s Bedout Sub-basin, broadening its potential oil and gas exploration pipeline. Across its portfolio, the key events ahead are partner decisions, permit work and any sanctioned exploration wells. Prospective resource estimates are uncertain and should not be confused with Proved Reserves or achieved output. Management’s longer-term aspiration to supply gas depends on successful exploration, appraisal, commercial assessment and approval stages.

3D Energi shares were quoted at AUD 0.080 on 6 November 2026, with a reported daily change of 0.00%. No shares traded during the session. Market Capitalisation was approximately AUD 41.94 million.

FAQs

Q: What is the central business focus?

A: 3D Energi holds a 20% interest in two offshore Otway Basin exploration permits.

Q: What was another notable development?

A: ConocoPhillips Australia operates the VIC/P79 and T/49P permits with an 80% interest.

Q: What are the next steps?

A: The company also operates WA-527-P in Western Australia’s Bedout Sub-basin, broadening its potential oil and gas exploration pipeline.

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