With no practical alternative on offer, 3D Oil shareholders voted today to sell down the company's Bass Strait West Seahorse oil and gas interests

John Robertson

PortfolioDirect

With no practical alternative on offer, 3D Oil shareholders voted today to sell down the company's Bass Strait West Seahorse oil and gas interests. The company must now reboot an investment proposition. One lesson is clear from the last few years. A small company trying to develop an offshore oilfield is likely to end in tears. Based on recent transactions, the remaining 3D Oil asset base should be worth at least $30 million. With a market capitalisation of $16 million, directors were told today to put aside sentiment and benchmark any future strategy against the 100% liquidation and capital return alternative. That will be the best way to convince investors the right decisions are being made.


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John Robertson
John Robertson
PortfolioDirect

John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...

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