Latest Oil And Gas Exploration News

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.

Omega Oil and Gas has secured a 19.43% stake in Elixir Energy, positioning itself for a major drilling push in Queensland’s Taroom Trough during 2026. Backed by a strong balance sheet, Omega aims to unlock significant gas and oil resources across multiple projects.

Elixir Energy has secured a $16.6 million capital injection led by Omega Oil and Gas, propelling its high-impact Lorelle-3 appraisal well drilling and expanding contingent gas resources in Queensland’s Taroom Trough.

Key Petroleum Limited progresses its Potential Commercial Area applications in Queensland’s Cooper-Eromanga Basin, anticipating government approval by year-end, while planning a capital raise to bolster its limited cash reserves.

Central Petroleum has completed its acquisition of strategic interests in the Otway and Cooper Basins, setting the stage for a multi-well exploration campaign starting in the second half of 2026.

Invictus Energy has ended its strategic partnership and equity investment agreement with Al Mansour Holdings due to irreconcilable differences and regulatory concerns. The company now refocuses on its core Zimbabwean assets while seeking alternative funding.

TMK Energy Limited has delivered a record-breaking quarter of gas production alongside significant cost reductions, setting the stage for a pivotal year focused on commercialising its vast resource base through new partnerships.

Tlou Energy Limited reported a challenging quarter with net cash outflows but secured financing and is actively seeking additional funds to sustain its operations and development plans.

Condor Energy Limited has advanced its offshore Peru portfolio with a new high-potential oil prospect and a strategic gas offtake agreement, positioning itself for future commercialisation in a promising basin.