Receipt of Notice to Exercise Buy-Out Right

Key points

• 3D Energi received a buy-out notice from ConocoPhillips for its 20% interest in VIC/P79.
• RISC Advisory determined the Fair Market Value of the interest at US$19.8 million.
• ConocoPhillips proposes a 5% discount to the FMV under the Joint Operating Agreement.

Full summary

3D Energi Limited has announced receipt of a buy-out notice from ConocoPhillips for its 20% participating interest in VIC/P79. This follows RISC Advisory's determination of the Fair Market Value (FMV) of the interest at US$19.8 million. ConocoPhillips proposes a 5% discount to the FMV under the Joint Operating Agreement. The company is reviewing the validity of the notices and the FMV determination and reserves its rights. If the buy-out proceeds, 3D Energi will inform shareholders about the expected net proceeds and engage with the ASX regarding the resumption of trading.