Deep-diving ocean "gliders" have revealed the journey of Bass Strait water from the Tasman Sea to the Indian Ocean.

ExxonMobil has announced that its Gippsland Basin joint venture company, which includes its subsidiary Esso Australia, will invest $1.1 billion to develop more than 270 million oil-equivalent barrels from the Turrum field in the Bass Strait, offshore southeast Australia.

Exxon Mobil Corporation (NYSE: XOM) announced today the Gippsland Basin Joint Venture, which includes its subsidiary, Esso Australia, will invest $1.1 billion to develop more than 270 million oil-equivalent barrels from the Turrum field in the Bass Strait, offshore southeast Australia.

International primary resource company BHP Billiton has approved an expenditure of $625 million for the full field development of the Turrum oil and gas field, a significant hydrocarbon resource in the Gippsland Basin, offshore the Australian state of Victoria.

Australian-Canadian Oil Royalties Ltd. (herein called ACOR) (OTCBB:AUCAF) is pleased to announce that the drilling of the Coelacanth well on ACOR's ORRI under VIC/P45 is expected to commence drilling by the 1st week of March. The well will be drilled by the brand new West Triton jack-up rig.