Latest Oil Gas Exploration News

AJ Lucas Group’s UK arm Cuadrilla Resources has settled a long-standing dispute over shale gas licences, receiving £12.5 million and terminating the carry agreement. This resolution clears a financial uncertainty clouding the company’s UK operations.

Key Petroleum has completed a $152,361 placement, issuing over 3.6 million shares to a sophisticated investor to support merger preparations and working capital needs.

Key Petroleum Ltd has secured A$152,361 through a share placement aimed at supporting its merger preparations and corporate development initiatives.

Key Petroleum announces the resignation of Managing Director Louis Chien, with interim leadership maintained by executive directors Wei Jin and Yuqi Cao as the board searches for a successor.

Lakes Blue Energy has commenced drilling the Wombat-5 well in Victoria’s Gippsland Basin, aiming to unlock a significant gas resource to help ease tightening supply on Australia’s east coast.

Emperor Energy has secured a significant upgrade to its Judith Gas Field resources following an independent audit, alongside a $3.7 million capital raise to fund the upcoming Judith-2 appraisal well scheduled for mid-2026.

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.