Hibiscus Petroleum is experiencing further delays at Sea Lion prospect offshore Australia due to weather delays, according to partner 3D Oil Ltd.'s (TDO).
The drilling of the Sea Lion-1 exploration well has been further delayed due to continuing, adverse Bass Strait weather and sea conditions preventing the timely release of the West Telesto jackup from its current assignment with another operator.
Sea Lion-1 is located in offshore Gippsland basin permit VIC/P57. TDO’s share of the Sea Lion-1 well costs is being carried up to the extent of US$7.5 million as part of an agreement with Carnarvon Hibiscus.
Hibiscus has 75.1% interest in VIC/P57, along with partner 3D Oil (24.9%).
Image: map of VIC/P57 Australia/3D Oil Ltd.
