3D Oil Limited (TDO) 2016年年度报告「ASX」.pdf

1、ANNUAL REPORT 2016WELL POSITIONED TO TAKE ADVANTAGE OF STRONG EAST COAST GAS MARKETTHE READY-TO DRILL FLANAGAN STRUCTURE IS A WORLD CLASS GAS PROSPECT CLOSE TO INFRASTRUCTUREAdjust spine accordinglyReview of operations 6Directors report 14Auditors independence declaration 25Statement of profit or lo

2、ss and other comprehensive income 27Statement of financial position 28Statement of changes in equity 29Statement of cash flows 30Notes to the financial statements 31Directors declaration 52Independent auditors report to the members of 53 3D Oil Limited Shareholder information 55Corporate directory 5

3、7THE COMPANY HAS PROVEN TRACK RECORD OF SECURING INDUSTRY FUNDING TO FUND EXPLORATION ACTIVITIESMAINTAINING A TECHNICALLY-BASED AND COMMERCIALLY SOUND LOW TERM APPROACH TO GROWING THE COMPANY IN A DIFFICULT INDUSTRY ENVIRONMENT1I would like to start with some comments on the results of Sea Lion-1.It

4、 goes without saying the results were a massive disappointment.It is,however,important to emphasise that our task at 3D Oil is to provide our shareholders with exposure to the potential wealth creation in drilling petroleum exploration wells.It can be a huge prize particularly for a small company bu

5、t it comes with inherent risk.Even when,as in the case of Sea Lion-1,the best of modern science is applied to prospect definition and drilling,the assessed probability of commercial success for a wildcat well is usually less than 50%.The anticipation of an upcoming exploration can be exciting but al

6、so with the knowledge that we will likely need to participate in at least several wells to statistically achieve success.Ideally exploration companies spread their risk by taking smaller stakes and leveraging through farmout.This is the approach that 3D Oil took with Sea Lion-1 and also for that mat