Perth-based oil and gas services company DownUnder GeoSolutions (Dug) has seized the chance to capitalise on what may be Australia's biggest oil find in decades by commissioning the nation's largest seismic survey.
Perth-based Carnarvon Petroleum says it will invest about $10 million to acquire 3D and 2D seismic data, which will allow the company to expand its search for oil and gas at its Phoenix project off the Pilbara coast.
Last month's huge oil discovery off the Pilbara coast, which could be the largest local find in 30 years, has already provided West Perth junior Carnarvon Petroleum with a significant boost to its share price.
Oil and gas exploration company Carnarvon Petroleum has announced a major oil discovery on the North-West Shelf, which it claims represents the largest in Australia for 30 years.
Oil explorer Gippsland Offshore Petroleum Ltd Ltd has scrapped the planned $25 million acquisition of West Perth-based Finder Exploration Pty Ltd after it was unable to reach agreement with the vendors of Finder.
