Latest Gas Exploration News

Korea National Oil Corporation is set to acquire a 29% stake in the Otway Basin joint venture with 3D Energi and ConocoPhillips, strengthening the exploration push for East Coast Australia’s gas supply.

Metgasco Ltd has announced a non-renounceable entitlement offer to raise approximately $0.75 million at a discounted price of 0.2 cents per share, aiming to fund production uplift programs and working capital. The offer is partially underwritten and includes a Top-Up Facility for eligible shareholders.

Bass Oil Limited has announced a $3.1 million rights issue to fund key projects including recommissioning a gas facility in Australia and drilling an oil well in Indonesia, aiming to significantly increase production and cash flow.

A landmark High Court ruling in South Africa exempts upstream petroleum activities from the Gas Act, easing regulatory burdens for companies like Renergen and Tetra4.

88 Energy Limited has secured shareholder approval for a significant capital consolidation, reducing its share count by a factor of 25 effective May 9, 2025. The company has outlined a detailed timetable to guide investors through the transition.

Conrad Asia Energy has successfully raised approximately A$9 million through a two-tranche placement, with strong insider participation, to fund key milestones in its flagship Mako gas development and other projects.

Australian Oil Company Limited has completed a key pipeline acquisition in California’s Sacramento Basin, significantly boosting gas production from its Rio Vista wells and setting ambitious quarterly flow targets.

Prominence Energy reported steady progress on its uranium remediation and gas exploration projects while managing costs amid a constrained cash position. The company is poised to unlock value from key assets as it navigates funding challenges.

State Gas Limited advances its Rolleston West Project with successful drilling of two vertical wells confirming coal and gas continuity, aiming to establish a maiden 2P reserve. Concurrently, the company expands its high density natural gas supply, targeting significant revenue growth through a six-truck dual fuel trial.

Kinetiko Energy reports encouraging progress in South African gas exploration, with improved well performance and a drilling optimisation study revealing key production enhancements.

ADX Energy reported a 13% rise in Austrian production and a 15% increase in sales revenue for Q1 2025, while Welchau-1 well testing remains suspended pending legal review. The company also secured a key Italian gas exploration permit, positioning for growth across Europe.

ADX Energy Ltd reported a solid cash balance of A$6.67 million at the end of Q1 2025, despite significant investment in exploration activities and ongoing loan repayments. The company’s quarterly cash flow highlights its commitment to advancing projects while managing financial stability.