ASX-listed energy producer 3D Energi (ASX:3DA) has requested a trading halt, pending an upcoming announcement concerning an update on its VIC/P79 exploration permit. The company made the request to the Australian Securities Exchange on Friday morning. 3D Energi focuses on oil and gas exploration and production. The company aims to deliver energy solutions through responsible and sustainable practices.
The trading halt is expected to remain in effect until the earlier of either the commencement of normal trading on Tuesday, January 27, or when the details of the announcement are disclosed to the market. Investors are keenly awaiting further information regarding the exploration permit and its potential impact on 3D Energi’s operations.
The VIC/P79 permit relates to an offshore petroleum exploration area situated in the Otway Basin, off the Victorian coastline. ConocoPhillips Australia operates the permit and holds an 80 per cent stake, with 3D Energi retaining the remaining 20 per cent interest. The announcement is expected to provide additional details on the progress and future plans for the exploration project.
