Latest Oil And Gas Exploration News

Omega Oil and Gas has locked in Helmerich & Payne’s FlexRig® 648 to power an expanded 2026/27 drilling campaign in Queensland’s Taroom Trough, aiming to unlock a vast unconventional oil and gas resource.

Echelon Resources has agreed to sell its 19.99% stake in Cue Energy to Horizon Oil and plans to accept Horizon’s takeover offer for the remaining shares, pending regulatory approvals.

AJ Lucas Group Limited has swung to a $38.9 million half-year profit, buoyed by a significant UK settlement and improved Australian drilling operations despite revenue pressures.

Frontier Energy Limited has reported a sharp 71% increase in net loss for the year ended 31 December 2025, with no dividends declared and a slight dip in net tangible assets per share.

Bass Oil has received a $3.5 million grant from the South Australian Government to fund pipeline construction for its Kiwi liquids rich gas project in the Cooper Basin, marking a key step towards production by 2028.

BPH Energy and Bounty Oil & Gas have concluded their Federal Court hearing challenging the refusal to extend the PEP 11 permit, with the court's decision now pending.

3D Energi Limited remains suspended from ASX trading after failing to provide a crucial update on its funding status and exploration permit implications, prolonging market uncertainty.

3D Energi Limited has offered 41.7 million free attaching options to investors from its October 2025 Placement, aiming to clear trading restrictions despite ongoing ASX suspension and financial challenges.

MEC Resources Ltd reported a half-year loss of $431,971 amid ongoing legal challenges over key gas exploration permits, while progressing investments in clean energy and neurotechnology. The company also completed a $359K options placement, reinforcing its financial position.

BPH Energy Ltd reported a half-year net loss of $925,691, weighed down by investment write-downs and associate losses, while raising $1.2 million to fund exploration and development. The company’s future hinges on a Federal Court review of a critical offshore permit held by investee Advent Energy.

BPH Energy has successfully raised $0.54 million by issuing over 542 million new listed options, allowing existing option holders to maintain their stake in the company’s future.

Galilee Energy has launched an offer of up to 464 million new options to participants in its recent $6.5 million placement, aiming to bolster exploration funding and working capital. The options, exercisable at $0.011 each over three years, come amid significant operational and market risks.