Latest Joint Ventures News

H3 Energy says four prospective partners have completed initial evaluations of its Warro gas project and been invited to submit commercial proposals. At Alinya, multiple global energy companies have signed confidentiality agreements and entered the data room, but no binding farm-out deal has yet been secured.

Red Sky Energy has started drilling Yarrow 5 in South Australia, the second well in a three-well development program operated by Santos. The well is expected to reach 2,775 metres by 14 September, with a further re-entry planned before first gas from Yarrow North 1 is targeted for early 2027.

Eagers Automotive has signed a non-binding agreement to acquire a 50% interest in Zagame Automotive Group, gaining exposure to 14 premium and luxury vehicle brands across Melbourne and Adelaide. The company expects the proposed joint venture to be immediately earnings accretive, although completion remains conditional and no transaction value has been disclosed.

Latitude 66’s KSB project has returned a striking preliminary economic case, with a post-tax NPV8 of US$485 million and an 85% IRR at a US$3,500 per ounce gold price. The opportunity remains unbuilt, unfunded and subject to further study, permitting and a production target containing 10% Inferred Resources.

Native Mineral Resources has told ASX it is unaware of any undisclosed information behind recent trading in its shares. The company pointed to record August gold output, a Citigold joint venture, Blackjack drilling results and stronger gold prices instead.

Echelon Resources delivered a sharp FY26 earnings increase after selling its Cue Energy stake, repaying debt and simplifying its portfolio. The headline profit includes a substantial disposal gain, leaving Palm Valley drilling and Amadeus Basin production to demonstrate the next phase of value creation.

Red Sky Energy will seek to turn a suspended 2008 exploration well into a new gas production point in South Australia, targeting 0.52 Bcf of gross incremental raw gas. The proposed work carries an estimated A$0.60 million net cost for Red Sky, but still requires joint venture approval and confirmation of the well’s downhole condition.

Bannerman Energy has launched a fully underwritten A$124 million placement that it expects will fund its share of the Etango uranium project through construction and ramp-up. The raising follows confirmation that CNOL’s strategic investment and joint venture conditions have been satisfied or waived.

Bass Oil has confirmed oil in the previously unproduced M sand at its Bunian 6 well in Indonesia, with a short cleanup flow reaching approximately 2,400 barrels per day without water. The completed well is expected to lift field production from 250 to at least 750 barrels per day, subject to testing and tie-in work.

Horizon Oil has brought its Nam Phong booster compressor online in Thailand, lifting gross field gas sales to approximately 10.3 TJ/d. The early result is expected to raise Thailand’s contribution to group production by about 500 boepd, although the company has not disclosed the project’s cost or stabilised production outlook.

Red Hill Minerals has more than doubled FY2026 net profit to A$20.1 million as its Onslow Iron royalty delivered A$28.8 million in income. The ASX-listed miner declared a fully franked final dividend of 10.8 cents per share, taking FY2026 distributions to 22.4 cents per share.

Omega Oil & Gas has commenced drilling at Canyon-4, the second well in its fully funded 2026/27 appraisal campaign targeting stacked Permian oil and gas reservoirs in Queensland’s Taroom Trough.