Oil Limited is an Australia-based company. The Company is engaged in
production and development of upstream oil and gas. The Company’s
exploration permits include Gippsland Basin, including exploration
VIC/P57 and Bass Basin, including exploration permit T41P. The explored
Vic/P57 permit is located in the north west of the basin and extends
the oil-prone exploration that runs from Moonfish to West Seahorse, in
the south east of the permit. The West Seahorse field contains oil at
levels within the upper Latrobe Group. Within Vic/P57, two prospects
located along this inversion trend, the Sea Lion and Felix Prospects.
Lion is located to the west of the West Seahorse oil field. Felix is
between the Moonfish oil field and the Wirrah discovery, and is similar
to Moonfish, which produces oil from several levels.