Oct 14 (Reuters) - 3d Oil Ltd TDO.AX
* Has undertaken a major cost reduction initiative which has resulted in board changes and a significant reduction in employee remuneration
* Chairman, Campbell Horsfall, and non-executive director Melanie Leydin have offered their resignations as directors of company
* Managing director will step up as acting executive chairman Source text for Eikon: ID:nASXTdnmT Further company coverage: TDO.AX