FINWIRES · TerminalLIVE
FINWIRES

ASX:OMA

10 stories mentioning ASX:OMAUpdated 6d ago

Every FINWIRES story that references ASX:OMA, newest first.

What's the latest news on ASX:OMA?

Asia

Omega Oil & Gas Begins Drilling at Queensland Well

Omega Oil & Gas (ASX:OMA) began drilling at the Canyon-4 well at the Canyon project in the Taroom Trough in Queensland, according to a Monday Australian bourse filing.Drilling at the Canyon-3 well confirmed the firm's understanding of the continuous nature of the oil and gas-bearing Permian interval on the eastern flank of the Taroom Trough.Canyon-4 will evaluate an overpressured, stacked sequence of Permian oil and gas-bearing sandstone reservoir intervals. The primary objective of the well is to test the continuity and quality of the Permian reservoir system and the hydrocarbon phase distribution within Omega's PCA areas.

ASX:OMA
Asia

Omega Oil & Gas Says Data from Queensland Appraisal Well Shows 526-Meter-Thick Oil, Gas-Bearing Permian Interval; Shares Jump 6%

Omega Oil & Gas (ASX:OMA) said drilling data, surface logging, and wireline logs at the Canyon-3 well, the first well in its appraisal program, at the Canyon project in the Taroom Trough in Queensland show a 526-meter-thick, oil and gas-bearing Permian interval with 170 meters of aggregate net pay, according to a Monday Australian bourse filing.The well reached a total depth of 3,792.6 meters on Aug. 15. Log analysis indicated that it is 14% thicker with 55% better porosity than in the original Canyon-1 well, encountering 18 meters of oil-bearing sands at an average porosity of 11.5% within a 42-meter-thick reservoir interval.Canyon-4 is scheduled to begin in around 7 days.Its shares jumped 6% in recent trading on Monday.

ASX:OMA
Asia

Omega Oil & Gas Says Drilling Ongoing as Planned at Queensland Well

Omega Oil & Gas (ASX:OMA) said drilling was progressing as planned at the Canyon-3 well, the first well in its appraisal program, at the Canyon project in the Taroom Trough in Queensland, currently drilling ahead at 2,570 meters in the intermediate hole section, according to a Friday Australian bourse filing.Drilling on the eastern flank has confirmed the presence of both oil and gas across multiple stacked Permian reservoir intervals, the company said.The initial results from the drilling at the well are expected within two weeks, Omega added.

ASX:OMA
Asia

Omega Oil & Gas Begins Drilling at Queensland Well as Part of Appraisal Program, Shares Up 3%

Omega Oil & Gas (ASX:OMA) began drilling at the Canyon-3 well, the first well in its appraisal program, at the Canyon project in the Taroom Trough in Queensland, according to a Friday Australian bourse filing.Canyon-3 is planned to be drilled to a total measured depth of around 3,900 meters.Four vertical appraisal wells will be drilled initially, followed by one or two horizontal wells extending up to 2,000 meters, per the filing.Its shares advanced 3% in recent trading on Friday.

ASX:OMA
Asia

Omega Oil & Gas Ends June Quarter With AU$102 Million Cash, No Debt

Omega Oil & Gas (ASX:OMA) ended the June quarter with AU$102 million in cash and no debt, having raised AU$60 million over the quarter, according to a Tuesday Australian bourse filing.The company said it remains fully funded for an expanded program comprising four vertical wells and one to two horizontal wells, including stimulation and flow testing, with drilling ongoing at its Canyon-3 well in Australia.

ASX:OMA
Asia

Omega Oil & Gas Starts 2026/2027 Drilling Program With Rig Mobilization to Queensland Well

Omega Oil & Gas (ASX:OMA) launched its 2026/2027 drilling and appraisal program with the mobilization of a rig to its Canyon-3 well in Queensland's Taroom Trough, according to a Tuesday filing with the Australian bourse.The start of the drilling was delayed due to the later-than-expected release of the rig from the previous operator, per the filing.Canyon-3 is the first well in a fully funded program comprising four vertical appraisal wells, each about one month in duration, followed by one or two horizontal wells contingent on land access and subject to well results, the company said.The mobilization of the rig "marks the start of Omega's largest, and most impactful drilling program to date," said CEO Trevor Brown.

ASX:OMA
Asia

Omega Oil & Gas Starts Civil Works for Well-Pad Preparation at Queensland Project

Omega Oil & Gas (ASX:OMA) said civil works for well-pad preparation began for the first wells in its drilling program on the oil and gas-bearing eastern flank of the Taroom Trough in Queensland, at the Canyon project and ATP 2081, according to a Tuesday Australian bourse filing.The 2026 appraisal program will comprise four vertical wells and one or two horizontal wells of 2,000 meters of lateral length.Its drilling program is scheduled to start around the end of June, and it seeks to de-risk the oil and gas play on the eastern flank of the Taroom Trough. The wells will delineate reservoir quality and distribution over a broad area and identify "sweet spots."

ASX:OMA
Asia

Elixir Energy Holds Largest Net Acreage in Queensland's Taroom Trough After 24% Increase in Discovered Resources, Euroz Hartleys Says

Elixir Energy (ASX:EXR) now holds an estimated contingent resource position of 3.5 trillion cubic feet equivalent (Tcfe) of gas in the Taroom Trough acreage following a 24% increase in discovered resources, giving it the largest net acreage position in the Queensland oil and gas basin, Euroz Hartleys said in an April 24 note.That compares with a basin position of 1.7 Tcfe for peer Omega Oil & Gas (ASX:OMA), the equity research firm said.Elixir Energy's Lorelle-3H well is arguably "the best drilled in the basin to date," with a horizontal length of 1,157 meters and average porosity of over 11%, which materially de-risks the company's upcoming hydraulic fracturing and flow test from the middle of June, Euroz Hartleys said.The company also has a 50% stake in the Diona well, a side project on the fringes of the Taroom Trough that recently returned "encouraging" drilling results to prove potential opportunity for near-term cashflow, the equity research firm said.Euroz Hartleys reiterated its speculative buy recommendation on Elixir Energy with an under-review price target of AU$0.28.Elixir Energy and Omega Oil & Gas' shares each fell past 3% in recent Monday trade.

ASX:EXRASX:OMA
Asia

Omega Oil & Gas to Raise AU$60 Million via Share Placement; Shares Reach All-Time High

Omega Oil & Gas (ASX:OMA) received firm commitments to raise AU$60 million through the placement of 71.4 million new shares at AU$0.84 apiece, according to a Thursday filing with the Australian bourse.In tranche one, about 38.6 new shares will be issued to raise AU$32.4 million, and in tranche two, 32.9 million new shares will be issued to raise AU$27.6 million, subject to shareholder approval, the filing said.Proceeds will be used for upcoming work program expected to start in June in the Taroom Trough in Queensland, per the filing.Shares rose 12% in afternoon trade Thursday and earlier reached an all-time high.

ASX:OMA
Asia

Elixir Energy Front-Runner in Queensland-Based Taroom Trough, Says Euroz Hartleys

Elixir Energy (ASX:EXR) is a key pick to tap the potential of the Taroom Trough, an emerging onshore oil and gas basin in Queensland that is gaining mainstream attention, Euroz Hartleys said Monday in a note.Queensland Premier David Crisafulli last week led federal officials on a visit to the Taroom Trough with operators including Elixir Energy to highlight the basin's potential as a source of energy security.Elixir, much like the oil giant Shell, which is steering the commercialization of the basin, commenced feasibility work on Friday with APA Group (ASX:APA) on a pipeline linking potential Taroom Trough gas production to the Wallumbilla Gas Hub, improving access to domestic and export markets. Early drilling results from these companies are suggesting encouraging resource potential.Euroz Hartleys is betting on Elixir as the company trades at about half the valuation of basin peer Omega Oil and Gas (ASX:OMA) despite holding the largest net acreage and resource position in the Taroom. Additionally, Elixir holds a 50% stake in the Diona well, a side project close to the Taroom, which could support small-scale and near-term production if testing is successful.Euroz Hartleys maintained its speculative buy rating on Elixir Energy and raised its price target to AU$0.28 from AU$0.19.

ASX:APAASX:EXRASX:OMA

Track with the FINWIRES app suite

FolioX
FolioX
Track ASX:OMA in your portfolio
WheelAI
WheelAI
Analyze ASX:OMA options with the wheel strategy
StockInsider
StockInsider
See market sentiment on ASX:OMA