Latest Oil And Gas Exploration News

Xstate Resources has disposed of its 20% stake in the Austrian Anshof project, shedding liabilities and production to sharpen focus on its promising Diona project and upcoming ASX re-listing.

Red Sky Energy has partnered with Condor Energy and associates to fund the drilling of the KN2 well at Killanoola, targeting a promising new reservoir zone identified by advanced seismic data. This move aims to boost production and accelerate cash flow from the South Australian oil project.

FAR Limited has been formally hit with a $6 million claim from Woodside Energy related to unrecoverable petroleum expenditures in Senegal, raising questions about potential financial exposure.

Brookside Energy has completed the stimulation phase of its Bruins Well in the Anadarko Basin, staying on schedule and budget, with flow-back and first sales planned for the second quarter of 2025.

Otto Energy Limited has announced a special unfranked dividend of AUD 0.00143 per ordinary share, with key dates set for late May and mid-June 2025.

Omega Oil and Gas has confirmed an extensive oil and gas system in Queensland’s Taroom Trough through high-quality logging at its Canyon-2 well, with DFIT testing now underway to further evaluate reservoir potential.

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.

Empire Energy has successfully raised $28 million through a placement and launched a $3 million Share Purchase Plan to fund critical development of its Carpentaria-5H well in the Beetaloo Sub-basin.

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 Limited’s May 2025 AGM update highlights a strategic acquisition and capital raising to accelerate its emergence as a key Australian gas producer, focusing on Cooper Basin and Indonesian assets.

HyTerra Limited advances its Nemaha Project with the conversion of the Sue Duroche 3 well into a monitoring site, while preparing to drill the Blythe 13-20 well, marking key steps in its natural hydrogen exploration program.

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.