Latest Oil And Gas Exploration News

Bass Oil Limited has acquired the Vanessa gas field from Beach Energy, marking its entry into gas production in Australia’s Cooper Basin. The company is raising $3.1 million to fund this acquisition alongside other growth initiatives.

Kinetiko Energy has begun drilling its third production test well at Brakfontein, applying revised techniques to boost gas recovery ahead of a planned 2026 micro LNG plant launch.

Hartshead Resources and joint venture partner RockRose Energy agree to a 28-day pause in procedural timelines for UK Southern Gas Basin Licence P2607, aiming to advance commercial discussions. The company remains committed to a constructive resolution while preserving its legal rights.

Brookside Energy has mobilised completion operations at its Bruins Well in Oklahoma’s Anadarko Basin, targeting first production and sales in the second quarter of 2025.

Strike Energy’s latest seismic surveys reveal promising exploration and appraisal opportunities at Ocean Hill and Kadathinni, reinforcing its dominant position in the Perth Basin gas market.

88 Energy Limited has secured shareholder approval for a significant capital consolidation, reducing its share count by a factor of 25 effective May 9, 2025. The company has outlined a detailed timetable to guide investors through the transition.

Pancontinental Energy has responded to an ASX query about recent spikes in its share price and trading volume, confirming no undisclosed information exists and pointing to strong industry interest in its PEL 87 project.

Po Valley Energy delivered steady gas output from its Podere Maiar-1 well in Q1 2025 while progressing multi-well drilling applications and a 3D geophysical survey in Italy. The company maintains robust cashflow and a solid financial position as it awaits key regulatory approvals.

Prominence Energy reported steady progress on its uranium remediation and gas exploration projects while managing costs amid a constrained cash position. The company is poised to unlock value from key assets as it navigates funding challenges.

Omega Oil and Gas has reported robust oil and gas flows from its Canyon-1H well in Queensland’s Bowen Basin, confirming commercial potential and securing $7 million in fresh capital alongside a strategic board appointment.

Emperor Energy has submitted a key Environmental Plan to NOPSEMA, marking a major step towards drilling the Judith-2 appraisal well in mid-2026 amid tightening east coast gas supply. The company also appointed industry veteran Douglas Jendry as Chairman to steer its next phase.

Xstate Resources has acquired a 51% stake in the Diona project, setting the stage for its ASX re-quotation and a planned drilling campaign in the third quarter of 2025. The company is also undertaking a capital raise of at least $1.5 million to support these initiatives.