Latest Exploration And Development News

State Gas Limited has independently certified a maiden 2P gas reserve of 30.2 PJ at its Rolleston West Project, underpinning plans for a 10TJ/day gas development. The company also raised $3.2 million through convertible notes to accelerate pre-development activities.

AXP Energy has completed and commissioned its first vertical well in Oklahoma, initiating gas sales while raising over A$1 million to fund further development. The company is pivoting its gas-to-power strategy towards Oklahoma after a limited trial in Colorado.

Echelon Resources reported a slight dip in production but secured long-term gas sales contracts extending to 2034 and plans four new development wells in the Amadeus Basin. The company also reduced its debt by A$7 million, maintaining financial flexibility for growth.

Alicanto Minerals has secured a transformative acquisition of the Mt Henry Gold Project in Western Australia, backed by a $28 million capital raise and a strategic partnership with Westgold. This move sets the stage for a major resource expansion and leadership refresh.

BMG Resources is advancing its Abercromby and Bullabulling gold projects with a major drilling campaign planned for early 2026, supported by a recent $2.5 million capital raise. The company aims to grow its existing mineral resources and progress towards near-term production.

Vulcan Energy Resources has locked in a €2.2 billion financing package to propel its Phase One Lionheart lithium and renewable energy project in Germany, marking a major step towards Europe’s first fully domestic sustainable lithium supply chain.

Vulcan Energy Resources reported a strong financing quarter with €509 million raised, offsetting operating and investing cash outflows and leaving the company well-funded heading into 2026.

Tungsten Mining NL reports a robust December quarter marked by soaring tungsten prices, a landmark scoping study at Mt Mulgine, and a $53 million capital raise, positioning the company for accelerated development.

Connected Minerals has completed its Phase 2 drilling at the Etango North-East Uranium Project in Namibia, with 17 of 23 holes returning economic uranium grades, reinforcing its geological model and setting the stage for further exploration.

Helios Energy has marked a key milestone with its first oil and condensate sales from the Presidio Oil Project in Texas, signaling a shift from exploration to early-stage production. The company is now focused on securing funding for further development and drilling activities.

Kinetiko Energy reports robust gas production from test wells and secures a binding joint development agreement with FFS Refiners to advance a pilot LNG plant in South Africa, backed by a $3.15 million capital raise and new North American market listing.

Ballymore Resources reports significant progress in Queensland with high-grade gold and silver-lead-zinc discoveries, advancing underground development and preparing for new drilling campaigns.