Latest Omega Oil & Gas (ASX:OMA) News

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.

Omega Oil and Gas has extinguished a 3% royalty on its Queensland liquids production by paying TAG Oil US$1 million, clearing the way for greater commercial flexibility following promising flow tests at Canyon-1H.

Omega Oil and Gas has confirmed an extensive oil and gas system in Queensland’s Taroom Trough through high-quality logging at its Canyon-2 well, with DFIT testing now underway to further evaluate reservoir potential.

Omega Oil and Gas has reported robust oil and gas flows from its Canyon-1H well in Queensland’s Bowen Basin, confirming commercial potential and securing $7 million in fresh capital alongside a strategic board appointment.

Omega Oil and Gas Limited has successfully raised A$7 million in a strongly supported institutional placement, positioning the company to advance its Canyon-1H fracture stimulation and appraisal program.

Omega Oil and Gas Limited has successfully completed drilling and testing of its Canyon-1H horizontal well, revealing encouraging reservoir conditions that set the stage for upcoming fracture stimulation and flowback testing.