The declaration by the National Offshore Petroleum Titles Administrator is a precursor that would pave the way for filing for a production license for TDO's Gippsland Basin permit.
Earlier this year, 3D Oil had entered into a farm-in agreement with Malaysia's Hibiscus Petroleum under which the Malaysian company would have secured a 50.1% interest in the permit for A$ 27 million.
While the farm-in has already secured Foreign Investment Review Board approval, it is still subject to Hibiscus shareholder approval.
A project team has been mobilised to work on engineering and planning to develop the project, with the aim of producing oil by mid 2014.
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