Vic/P57 JV Confirms Sea Lion-1 Prospect Offshore Australia as a Dry Well

3D Oil Limited reported Tuesday that wireline evaluation and sampling of formation fluids over zones of interest identified on preliminary Sea Lion-1 data have been completed and confirmed that no zones of commercial hydrocarbons were encountered in the well in permit Vic/P57 in the Gippsland Basin, offshore Australia.

The company revealed that current operation at the Sea Lion-1 well includes running out of the hole with logging tools, while forward operations will be to plug and abandon the well and to demobilize the West Telesto (400' ILC) jackup from the site.

3D Oil holds a 24.9 percent interest in permit Vic/P57, with the remaining 74.1 percent held by the joint venture operator Carnarvon Hibiscus Pty Ltd. -- a wholly owned subsidiary of Malaysia's Hibiscus Petroleum Berhad.

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