Apr. 2013 - 3D Oil and Hibiscus Petroleum Berhad previously announced the award of a contract to WorleyParons for front-end engineering and design (FEED) work regarding the West Seahorse oil field in permit VIC/P57. Recently, the partners made the decision to develop the field using a jackup mobile offshore production unit (MOPU) and a floating production, storage and offloading (FPSO) vessel. Produced gas will be processed and used as fuel and enhanced recovery with the remainder being flared off. Field life is estimated to be four to five years with initial production rates as high as 12,000 bopd. First oil is anticipated for 1Q 2015.

Dec. 2012 - Hibiscus Petroleum's share holders have approved the company's farm-in to 3D Oil's exploration permit VIC/P57 in the Bass Strait off southeast Australia. The company will now assume the role of operator and carry a 50.1% interest in the permit. Finalization of the deal should happen in the coming weeks. Prospects located in the permit include West Seahorse, Sea Lion and Felix. A joint venture design team is working on development concepts and FEED studies to bring West Seahorse into production with first oil targeted for 1Q 2015. The partners plan to apply for a production license in 2013. West Seahorse is estimated to hold combined proven and probable reserves and contingent resources of 9.2 million barrels.

Aug. 2012 - 3D Oil has agreed to a $28 million farm-in deal with Hibiscus Petroleum to allow the progression of the West Seahorse development in permit VIC/P57, offshore Victoria. The agreement is subject to approval from Hibiscus' shareholders and the Foreign Investment Review Board. It also requires a waiver from the Australian Securities Exchange. Under the agreement, Hibiscus will take a 50.1 percent operating stake in VIC/P57. The funding from Hibiscus will be used to kick-start the development of the West Seahorse oil field, which involves the drilling of up to two appraisal wells. In addition, the joint venture is exploring the possibilities of building a mobile offshore production unit (MOPU) and a floating, storage and offtake tanker, which will be moored to a buoy.

Jun. 2011 - 3D Oil says that engineering studies for the West Seahorse development has progressed to a sufficient level of detail to commence the regulatory approval process.

Dec. 2010 - Gaffney Cline's independent reveiew of West Seahorse has resulted in a significant increase in the size of the oil accumulation. The GCA most likely or Best Case estimate for the entire West Seahorse field represents an increase of 74% from 5.3 million barrels to 9.2 million barrels of recoverable oil. Furthermore, the GCA High estimate represents over 100% increase on previous figures quoted by 3D Oil. The GCA high estimate for West Seahorse is 14.5 million barrels of recoverable oil.

Apr. 2010 - 3D Oil commenced Front End Engineering and Design with Worley Parsons for the West Seahorse oil field development in Bass Strait, with a final investment decision to be made in the second half of 2010. West Seahorse has 2P reserves of 5.3 MMbbl with an additional 3.4 MMbbl of contingent resources, and the objective of the FEED is to ensure the oil reserves are developed in a cost effective and timely manner. A field development option being considered is to tie a subsea well to shore via a production pipeline, then transporting production to a new crude oil stabilization plant or linking it to existing third-party facilities. First oil from the field is planned in 2012.

Mar. 2009 - 3D Oil has is evaluating options for development at the West Seahorse oi field located in the Gippsland Basin offshore Australia. The favored development plan incorporates an MOPU, but other options being investigated are an FSO, subsea tie-back to third-party facilities and a wellhead platform. WorleyParsons completed pre-FEED for the MODU development option. 3D Oil continues to seek JV partners and financial backing for the field.

Mar. 2009 - After completing drilling operations on West Seahorse with the West Triton jackup, 3D Oil undertook an evaluation of the field’s subsurface, which resulted in an increase in recoverable reserves to 8.7 MMbo. Development options are under consideration and the company is seeking a JV partner for the development. West Seahorse is located offshore Australia on Vic/P57 in the Gippsland Basin.