Australia

Australia at a Glance

Hibiscus Petroleum, through our wholly-owned subsidiary Carnarvon Hibiscus Pty Ltd (Carnarvon Hibiscus) has interests in one licence located in the prolific oil and gas producing province of the Bass Strait of Australia.   

We also have a 11.67% interest in 3D Oil Limited (3D Oil), a company listed on the Australian Stock Exchange. Through 3D Oil, we have indirect exposure to five additional exploration licences.

West Seahorse Environment Plan Revision (pdf)

Gippsland Basin

1) VIC/RL17 Petroleum Retention Lease (Previously known as VIC/L31)

Hibiscus Petroleum’s Interest:
100%

Operator:
Carnarvon Hibiscus

Asset Location:
Gippsland Basin, Offshore Victoria

Water Depth:
50m

Field Life Cycle:
Development

Discovered Field:
West Seahorse

2) Investments:

3D Oil, a company listed on the Australian Stock Exchange is an associate company of Hibiscus Petroleum. As at 1 October 2023, Hibiscus Petroleum holds 11.67% indirect interest in 3D Oil. 3D Oil holds interests in five offshore exploration licences:

A. VIC/P74
100%

Location:
Gippsland Basin, adjacent to Kingfish field, the largest oil field in Australia.

B. T/49P
20%

Location:
Otway Basin adjacent to the Thylacine and Geographe gas fields.

C. WA-527-P
100%

Location:
Bedout sub-basin, adjacent to the recent significant oil discovery at Dorado field.

D. VIC/P79
20%

Location:
Otway Basin adjacent to the Thylacine and Geographe gas fields.

E. GSEL 759
100%

Location:
20km Southeast of Mount Gambier and proximal to the South East Pipeline System.

Highlights

NUMBER OF LICENCES1

1

2C OIL RESOURCES1

8.0

MMbbl
WELL DRILLED

1

Exploration Well
TOTAL EXPLORATION ACREAGE

34 km2

NOTES:

¹ Based on Hibiscus Petroleum’s direct interest in VIC/RL17.

 

KEY:

  • 2C Oil Resources – Best estimate contingent oil resources
  • MMbbl – Million barrels