Latest Offshore Exploration News

Pilot Energy has made significant strides in its offshore Perth Basin exploration with environmental approval for a major seismic survey and secured substantial financing to support its ongoing projects and transition to clean energy.

MEC Resources has advanced its investment in Advent Energy and issued shares to directors, while its PEP 11 Joint Venture faces ongoing legal scrutiny ahead of a Federal Court hearing.

Grand Gulf Energy progresses its Petroleum Exploration Licence application offshore Namibia and advances seismic survey planning for its Red Helium project, while exploring strategic partnerships to enhance growth.

Pilot Energy has secured crucial environmental approval to conduct a 3D seismic survey offshore Perth Basin, propelling its exploration and farmout ambitions forward while supporting carbon storage initiatives.

Melbana Energy has significantly upgraded its prospective resource estimates for the AC/P70 offshore permit, boosting gas and oil volumes and advancing the Hadrosaurus lead to prospect status, while progressing a farmout process to fund exploration.

MEC Resources has responded to ASX inquiries about unusual trading activity, confirming no undisclosed information but highlighting ongoing Federal Court proceedings involving its investee company.

BPH Energy has responded to ASX inquiries about unusual trading activity, confirming no undisclosed information and highlighting ongoing Federal Court proceedings related to the PEP 11 project.

BPH Energy Limited reported a 49% increase in net profit for FY2025, driven by gains in its energy and biotech investments, while facing a pivotal Federal Court hearing over the renewal of the PEP-11 offshore gas exploration permit.

Winchester Energy reported steady oil production and revenue for the June quarter while resolving key legal disputes and undergoing significant board changes. The company also withdrew from costly Peruvian exploration plans, focusing on US operations and cost control.

Bounty Oil and Gas reported $1.09 million in oil revenue for FY 2025, boosted reserves to 313,000 barrels, and plans to double production with Surat Basin operations starting late 2025. Meanwhile, a Federal Court challenge looms over its Sydney Basin offshore permit.

Pilot Energy has initiated a formal farmout process to attract partners for its offshore Perth Basin permit WA-481P, featuring the ready-to-drill Leander Gas Prospect with 1.1 trillion cubic feet of prospective gas resources.

Condor Energy has secured a 12-month extension for its Technical Evaluation Agreement in Peru’s Tumbes Basin, underpinning its exploration and commercialisation plans backed by significant prospective oil and gas resources.