Latest Oil Gas Exploration News

Key Petroleum Ltd has raised over A$314,000 through a targeted share placement, aiming to accelerate asset acquisition and maintain existing operations.

88 Energy advances its Namibia exploration with a planned high-resolution airborne survey and bolstered confidence from nearby successful drilling results.

Condor Energy has unveiled a significant upgrade to its offshore Peru portfolio with the addition of the Raya West prospect, pushing the Greater Raya area’s prospective oil resources beyond 900 million barrels. This milestone enhances Condor’s position as a major player in the Tumbes Basin exploration landscape.

Elixir Energy has reached 2,320 metres in the Lorelle-3 appraisal well and is preparing to drill the reservoir section targeting the Dunk member of the Tinowon Sandstone, with flow testing planned before mid-2026.

ADX Energy has revealed a significant technical update on its Welchau appraisal permit in Austria, highlighting a connected petroleum system with 18 million barrels of prospective light oil and 125 billion cubic feet of gas condensate resources.

Grand Gulf Energy has resumed trading on the ASX following a pivotal announcement securing new exploration rights alongside a fresh capital raising initiative.

Lakes Blue Energy has completed drilling and begun production testing at its Wombat-5 well, while progressing plans for proof-of-concept drilling at the Portland Energy Project targeting up to 1 trillion cubic feet of gas.

H3 Energy Limited has made significant technical progress in de-risking its Warro Gas Field and confirmed the presence of natural hydrogen at the Rickerscote Prospect, while appointing a new CEO and completing a corporate rebrand.

Grand Gulf Energy has progressed its Petroleum Exploration Licence application offshore Namibia and continued development discussions for its Red Helium Project, maintaining a disciplined capital approach during the December 2025 quarter.

3D Energi Limited has voluntarily suspended trading of its shares on the ASX as it navigates funding challenges and the future of its VIC/P79 exploration permit. The suspension will last until early February or until further updates are provided.

3D Energi has confirmed two significant gas discoveries in the Otway Basin but now confronts a funding shortfall that has led to a trading suspension on the ASX.

Elixir Energy has commenced drilling at the Lorelle-3 appraisal well in Queensland’s Taroom Trough, targeting significant gas resources with plans for advanced testing by mid-2026.