Latest Oil And Gas Exploration News

ADX Energy’s HOCH-1 well in Upper Austria shows promising gas flow and reservoir extent, with further multi-zone testing set to resume after delays.

Elixir Energy has secured $5 million through a discounted placement to support ongoing flow tests at Lorelle-3H, artificial lift trials at Diona-1, and initiate a strategic review of its Taroom Trough assets.

Invictus Energy has locked in a revised drilling contract with Exalo Drilling for the Musuma-1 exploration well, confirming a November 2026 spud date at Zimbabwe's Cabora Bassa Project. Preparations including rig maintenance, well services procurement, and wellpad construction are advancing steadily.

Omega Oil & Gas is drilling ahead at the Canyon-3 appraisal well in Queensland’s Taroom Trough, targeting extensive Permian reservoirs that could define a significant new oil and gas province.

Macallum New Energy has released an independently certified maiden Prospective Resource estimate for its Aberfeldy Prospect in the North Perth Basin, revealing significant unrisked recoverable oil and gas volumes under two fluid scenarios.

Omega Oil & Gas has kicked off its most ambitious drilling program yet in Queensland’s Taroom Trough, starting with the Canyon-3 well as part of a fully funded 2026/27 appraisal campaign targeting significant unconventional oil and gas resources.

NuEnergy Gas Limited has locked in a fully funded US$88 million contract with PT Beijing Energy Linking to develop its Tanjung Enim POD 1 project in Indonesia, targeting first gas sales in early 2027 under an Early Gas Sales Initiative.

Carnarvon Energy has contracted the Transocean Equinox rig for a multi-well drilling campaign in the Bedout Sub-basin starting April 2027, following a 92% increase in prospective resources from its seismic MegaMerge project. The company maintains a robust cash position of A$98 million with no debt, underpinning its exploration and development ambitions.

Lion Energy has locked in funding and government approval for its Bula Karang-1 well in Indonesia, targeting a September spud, while winding down its hydrogen project to focus on core upstream oil and gas activities.

Key Petroleum Limited continued its push for Potential Commercial Area approvals for ATP 920 and ATP 924 while completing two share placements that bolstered its working capital. The company remains focused on securing tenure certainty and expanding its asset portfolio amid measured financial management.

ADX Energy has secured A$3.58 million through a discounted placement to fund multi-zone testing at its HOCH-1 gas discovery in Austria, follow-up drilling, and offshore Sicily exploration amid Europe's tight gas market.

Macallum New Energy completed key 3D and 2D seismic surveys in Western Australia’s Perth Basin, setting the stage for prospect maturation and potential drilling in 2027 while maintaining a strong cash position.