Latest Oil And Gas Sector News

Omega Oil and Gas has secured a commanding acreage position in Queensland’s Taroom Trough and fully funded an expanded drilling program to accelerate appraisal and early production.

Red Sky Energy is raising approximately AUD 4.2 million through a fully underwritten non-renounceable rights issue priced at 0.1 cents per share. The capital will fund participation in Santos-operated wells and support ongoing operations.

Cue Energy Resources Limited’s Independent Board Committee has unanimously advised shareholders to reject Horizon Oil Limited’s off-market takeover offer, citing undervaluation and significant risks. Shareholders are urged to take no action in response to the offer.

Galilee Energy has appointed a US Advisory Board to drive its Gulf Coast oil and gas expansion, targeting low-risk brownfield assets. The company’s maiden Zydeco-1 well in Louisiana is set to spud in Q2 2026, marking a key milestone in its US growth strategy.

Cue Energy Resources has advised shareholders to hold off on any action following Horizon Oil's dispatch of a Replacement Bidder’s Statement for its unsolicited takeover offer. A formal response and recommendation from Cue’s Independent Board Committee is expected by early April.

The Brazilian government has imposed a 12% tax on crude oil exports effective immediately, a move framed as windfall profit sharing amid high oil prices. Karoon Energy, with significant Brazilian operations, faces new cost pressures as the tax awaits potential ratification by Congress.

AXP Energy has successfully raised A$800,000 through a share placement to fund development of its Oklahoma oil project and explore new growth opportunities.

Horizon Oil has launched an off-market takeover offer for Cue Energy Resources, proposing a mix of cash and shares. Cue’s Independent Board Committee is now carefully evaluating the proposal before advising shareholders.

Horizon Oil has made a strategic move to acquire the remaining shares of Cue Energy Resources with an offer valuing Cue shares at approximately 14.3 cents each, representing a notable premium. This bid aims to create a larger, more diversified oil and gas entity with potential annual synergies of up to A$2 million.

Bass Oil reported steady January production with a notable regulatory green light for its Vanessa gas field acquisition and a $3.5 million grant to accelerate the Kiwi gas field development.

SRJ Technologies has secured multiple new purchase orders for its BoltEx flange clamp technology from major international operators, reinforcing its growing global footprint and industry validation.

Intelligent Monitoring Group Limited has significantly reduced its half-year loss while increasing revenue and adjusted EBITDA, driven by organic growth and key acquisitions in Australia and New Zealand.