1、ANNUAL REPORT 2015SEA LION DRILLING TO COMMENCE SHORTLYCONTENTSReview of Operations 6Directors report 14Auditors independence declaration 24Statement of profi t or loss and other comprehensive income 26Statement of fi nancial position 27Statement of changes in equity 28Statement of cash fl ows 29Not
2、es to the fi nancial statements 30Directors declaration 51Independent auditors report to the members of 3D Oil Limited 52Shareholder information 55Corporate directory 571EAST COAST GAS MARKET IS ONE OF THE FEW ENERGY MARKETS IN THE WORLD WITHOUT SUBSTANTIAL OVER CAPACITYWELL FUNDED WITH QUALITY HIGH
3、 IMPACT PROJECTS2MONETISEDWEST SEAHORSEAT THE TOP OF THE MARKETT/49 P POTENTIAL WORLD CLASS ASSET3I would like to start with a recent quote from Energy Quest,a leading energy advisory organisation;“The Australian east coast gas market is one of the few energy markets in the world without substantial
4、 over-capacity.The next six months is the moment of truth as the GLNG and APLNG projects start up,at the end of Q3 and in Q4 respectively.”It is diffi cult to overstate how radically the energy sector has changed in 12 months.In the history of oil and gas exploration,and even today,many E&P companie
5、s would not question whether there would be a market for their product.Many of us in the industry assumed that the entire worlds known oil would be produced before we swapped to an alternative energy source.However,just like coal,I now believe that some oil accumulations will never be produced due t
6、o cost factors and a changing world.Having said that,I still believe that there is plenty of life left in the oil and gas exploration sector.We just have to be smarter about where we look and 3D Oil is attempting to do just that.When 3D Oil was granted sole rights to T/49P it was a large but calcula