Latest Oil And Gas Exploration News

3D Energi is gearing up to drill up to six exploration wells in the offshore Otway Basin, targeting a massive 9.2 trillion cubic feet of prospective gas resources. The entry of Korea National Oil Corporation into the joint venture adds strategic weight to this pivotal East Coast energy project.

Elixir Energy has advanced its strategic plan in Queensland’s Taroom Trough, appointing a new COO, initiating a major cost reduction, and preparing to drill key exploration and appraisal wells that could unlock significant gas resources.

Omega Oil & Gas has secured a $7.3 million refundable R&D tax offset for FY23, bolstering its financial position and supporting ongoing development of its promising Canyon Project in Queensland.

Xstate Resources has launched a $2-3 million capital raising with a priority offer to existing shareholders, coinciding with a shareholder meeting to approve a key acquisition.

3D Energi Limited confirms final well locations and a September 2025 start for Phase 1 of its Otway Basin drilling program, with ConocoPhillips covering up to US$65 million of costs.

3D Energi Limited has updated its prospective gas resource estimates in the Otway Basin, revealing a substantial 9.2 trillion cubic feet (Tcf) of gross recoverable gas across 51 prospects. The company is gearing up for a multi-well drilling campaign in 2025 targeting near-term commercialisation opportunities to bolster East Coast energy security.

Invictus Energy advances its Cabora Bassa Project in Zimbabwe with an updated Petroleum Production Sharing Agreement draft and National Project Status approval, setting the stage for exploration drilling in 2025.

Xstate Resources Limited has announced a re-compliance capital raising to fund its acquisition of a 51% interest in the Diona Project in Queensland and the drilling of the Diona-1 well, aiming to resume ASX trading.

Triangle Energy has signed binding agreements to sell its onshore Cliff Head assets to Pilot Energy, marking a strategic shift to focus on oil and gas exploration in the Perth Basin.

Xstate Resources has appointed joint lead managers for a $2-3 million capital raise aimed at re-compliance with ASX listing rules and trading reinstatement. The company also plans a key acquisition pending shareholder approval.

Triangle Energy's joint venture partners Echelon Resources and Strike Energy have withdrawn from key Perth Basin permits, prompting the company to seek new collaborators to continue its exploration program.

Red Sky Energy has partnered with Condor Energy and associates to fund the drilling of the KN2 well at Killanoola, targeting a promising new reservoir zone identified by advanced seismic data. This move aims to boost production and accelerate cash flow from the South Australian oil project.