Latest Oil And Gas Exploration News

Central Petroleum has terminated the sale of its Northern Territory subsalt permits and withdrawn from the EP112 joint venture, reallocating capital towards the Mt Kitty appraisal well and other projects.

Finder Energy has launched a $3 million Share Purchase Plan offering eligible shareholders in Australia and New Zealand the chance to buy shares at $0.50 each, a 15% discount to recent prices. The funds will accelerate engineering and procurement for the KTJ oil project.

Macallum New Energy has wrapped up its first 3D seismic survey over key Jurassic gas leads in EP-494, deploying innovative GeoPulse technology to reduce environmental impact. Preliminary data processing is underway with results expected by late June.

Beetaloo Energy has secured full underwriting for its $5 million Share Purchase Plan, with shareholder approval for the share issuance and any shortfall shares to be sought at the upcoming AGM on 29 May 2026.

ADX Energy is progressing its HOCH-1 shallow gas well in Upper Austria, targeting up to 17.3 BCF of prospective gas resources with drilling at 950 metres depth and plans for two more wells this year.

Condor Energy secures A$2.25 million in a placement to advance licence conversion, gas commercialisation, and exploration drilling readiness in its offshore Peru portfolio.

Xstate Resources reports smooth progress at its Diona-1 well in Queensland, completing stimulation and preparing for a 14-day flow test after detecting methane gas during flowback.

Elixir Energy has completed stimulation at its Diona-1 well in Queensland’s Surat-Bowen Basin, observing encouraging gas indications ahead of flow testing. The well’s proximity to major pipeline infrastructure could accelerate commercialisation if results hold.

Key Petroleum Ltd has wrapped up the last 3% tranche of its share placement, raising nearly $59,000 and exhausting its 15% ASX placement limit. The fresh capital is earmarked for asset acquisitions, development, and working capital.

Strike Energy has successfully drilled the Walyering West-1 well, revealing a new conventional gas accumulation in the Perth Basin with promising reservoir characteristics and proximity to existing infrastructure.

DUG Technology Ltd recorded a 35% revenue increase in FY26-Q3, surpassing full-year FY25 revenue in just nine months and announcing a strategic move to half-year financial reporting.

Forte Energy has rapidly expanded its oil and gas exploration portfolio in Alaska’s National Petroleum Reserve, acquiring over 156,000 acres including the billion-barrel Harrier Prospect and adjacent leases to Umiat Oil Field, while securing significant cost savings through lease fee suspensions.