Bass Strait oil hopeful, 3D Oil, received a generous write-up in The Australian newspaper today (see a copy at (VIEW LINK) article). After listing in 2007, 3D Oil is aiming for a production start in late 2014 or early 2015. Investor fatigue has taken its toll on the demand for 3D Oil shares, as it has on so many other companies. The sector now depends on some of these opportunities finally coming good, even if several years later than expected in many cases, to help rebuild interest. Delays sap value and share prices must fall if potential returns are to stay competitive. Paying $21 million for a half share with only 18 months to wait (the prospect for a buyer of 3D Oil today) is a much better deal than $40 million with an eight year wait for anyone at the time of the IPO.
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