Latest Oil And Gas Exploration News

Omega Oil and Gas has locked in Helmerich & Payne’s FlexRig® 648 to power an expanded 2026/27 drilling campaign in Queensland’s Taroom Trough, aiming to unlock a vast unconventional oil and gas resource.

3D Energi Limited has offered 41.7 million free attaching options to investors from its October 2025 Placement, aiming to clear trading restrictions despite ongoing ASX suspension and financial challenges.

Galilee Energy has launched an offer of up to 464 million new options to participants in its recent $6.5 million placement, aiming to bolster exploration funding and working capital. The options, exercisable at $0.011 each over three years, come amid significant operational and market risks.

Omega Oil and Gas has secured a substantial new 750 square kilometre acreage in Queensland’s Taroom Trough, forming a powerful joint venture with Tri-Star and Beach Energy to accelerate exploration and appraisal in 2026.

3D Energi has reported significant gas discoveries at Essington-1 and Charlemont-1 wells in the Otway Basin, reinforcing its strategy to supply local gas to Australia's east coast. However, the company faces funding challenges that have led to a temporary trading suspension.

Emperor Energy has appointed Tim Handley as Managing Director and is making significant progress on funding and preparing the Judith-2 appraisal well in the Offshore Gippsland Basin.

IPB Petroleum is set to expand its footprint into Alaska’s National Petroleum Reserve with a major lease acquisition, supported by a recent $1.27 million capital raise. The company also plans a rebrand to Forte Energy, signalling a new chapter.

Beetaloo Energy Australia Limited reported a solid cash position of $17.96 million at the end of December 2025, supported by $6.8 million in unused financing facilities. The company’s liquidity covers approximately 2.6 quarters of current cash outflows, positioning it well as it awaits the activation of a new $30 million infrastructure facility.

88 Energy Limited has significantly expanded its Alaskan North Slope acreage and progressed its farm-out strategy despite regulatory delays, while maintaining a solid cash position to support ongoing exploration.

Pancontinental Energy has identified two new prospects in its PEL 87 permit, boosting its high case prospective resources to 6.1 billion barrels of oil net to the company. While progressing farmout discussions, the company awaits a critical permit extension decision from Namibian authorities.

Basin Energy Limited reported a challenging cash flow quarter ending December 2025, offsetting operational outflows with financing inflows and strategic asset sales. The company remains confident in sustaining operations amid variable exploration costs.

NuEnergy Gas Limited reported a cash outflow in Q4 2025 but secured a binding gas sales agreement and a strategic funding collaboration to advance its Indonesian coal bed methane projects.