Latest Oil Gas Exploration News

Key Petroleum Limited has successfully placed all remaining shortfall shares from its recent entitlement offer, securing over A$312,000 in gross proceeds. This final step closes the capital raising round initiated in May 2025.

Galilee Energy reported operational cost reductions and a $2.8 million cash balance following a partial capital raise, while progressing a farm-out process for its Denison Trough permit.

Pancontinental Energy has upgraded its Saturn Complex prospective oil resources to 4 billion barrels net, supported by new basin modelling and seismic studies. The company is advancing environmental assessments and farmout discussions amid encouraging regional exploration activity.

Lakes Blue Energy has secured $6.5 million in new capital and is set to begin drilling the Wombat-5 gas well, targeting near-term supply to Victoria’s east coast market. Meanwhile, its Nangwarry carbon dioxide project moves forward with a fully funded feasibility study.

Jade Gas Holdings has secured a A$3.64 million director loan to advance production at its Red Lake Gas Field, anticipating a transformational gas breakthrough this quarter.

Pancontinental Energy has upgraded its prospective oil resources offshore Namibia’s Orange Basin, raising estimates and geological confidence for its PEL 87 project. The company also identified new prospectivity at Phoebe West, signaling growing exploration potential.

D3 Energy has reported a significant 39% increase in gas flow rates at its RBD10 well in South Africa following a re-test, highlighting strong reservoir recharge and connectivity.

Blue Energy’s subsidiary Eureka Petroleum has been granted two significant Potential Commercial Areas in Queensland’s North Bowen Basin, alongside a renewal of its ATP 814 exploration permit. These awards position the company to advance substantial gas resources toward production.

Condor Energy has secured a 12-month extension for its Technical Evaluation Agreement in Peru’s Tumbes Basin, underpinning its exploration and commercialisation plans backed by significant prospective oil and gas resources.

Vintage Energy has addressed an ASX compliance issue related to the timing of its May 2025 securities issuance, confirming reliance on its placement capacities to maintain regulatory adherence.

Otto Energy has announced the resignation of its Acting CEO, Phil Trajanovich, after a year in the role. The board is now actively seeking a permanent replacement to lead the company forward.

Rey Resources Limited has dispatched its Target's Statement recommending shareholders accept an unconditional $0.028 per share cash offer from Vigorous Resources Pty Ltd. The bid, which offers a significant premium over historical prices, opens on 9 July and closes on 11 August 2025.