Latest Oil And Gas Exploration News

Strike Energy reports steady progress on its South Erregulla gas power project, while optimising Walyering production and maintaining strong liquidity. The company navigates market conditions with a strategic reduction in output and plans for upcoming drilling activities.

Omega Oil and Gas has secured a 19.43% stake in Elixir Energy, positioning itself for a major drilling push in Queensland’s Taroom Trough during 2026. Backed by a strong balance sheet, Omega aims to unlock significant gas and oil resources across multiple projects.

Elixir Energy has secured a $16.6 million capital injection led by Omega Oil and Gas, propelling its high-impact Lorelle-3 appraisal well drilling and expanding contingent gas resources in Queensland’s Taroom Trough.

Melbana Energy’s Q4 2025 report reveals a complex quarter with drilling setbacks in Cuba due to partner payment issues, alongside significant resource upgrades offshore Australia.

Equus Energy has launched on the ASX with full ownership of the Equus Gas Project, backed by a $46 million conditional funding and gas sales agreement with Alcoa. The project aims to supply a significant new gas source for Western Australia’s LNG and domestic markets.

Finder Energy Holdings has completed the acquisition of the Petrojarl I FPSO, a critical step that de-risks the KTJ Project and accelerates its path to a Final Investment Decision expected by mid-2026. The company also secured A$25 million in funding and achieved a significant resource upgrade.

Po Valley Energy Limited reported steady gas production and strong cashflows from its Podere Maiar-1 facility during the December 2025 quarter, while completing a major 3D geophysical survey to support future development.

Key Petroleum Limited progresses its Potential Commercial Area applications in Queensland’s Cooper-Eromanga Basin, anticipating government approval by year-end, while planning a capital raise to bolster its limited cash reserves.

Lion Energy has locked in funding for its Bula Karang-1 well in Indonesia’s East Seram PSC, with drilling set for mid-2026. Meanwhile, the company is holding back on its green hydrogen project pending government grants.

3D Energi Limited has voluntarily suspended trading of its shares on the ASX as it navigates funding challenges and the future of its VIC/P79 exploration permit. The suspension will last until early February or until further updates are provided.

3D Energi has confirmed two significant gas discoveries in the Otway Basin but now confronts a funding shortfall that has led to a trading suspension on the ASX.

Central Petroleum has completed its acquisition of strategic interests in the Otway and Cooper Basins, setting the stage for a multi-well exploration campaign starting in the second half of 2026.