Latest Oil And Gas News

Central Petroleum has secured a binding gas sales agreement with the Northern Territory Government, underpinning two new Palm Valley wells that could lift production capacity by around 40%. The deal replaces a prior arrangement and is supported by an expanded loan facility.

Horizon Oil’s Letter of Intent with Power and Water Corporation for a new Mereenie gas sales deal has expired without replacement, prompting a suspension of planned infill drilling and a notable cut to capital expenditure forecasts.

Prairie Lithium is poised to begin commercial lithium production in Q4 2026 as its Direct Lithium Extraction facility nears completion, backed by a binding offtake agreement covering 100% of Phase 1 output and a strategic AU$10 million equipment contribution from Hydro Lithium.

Elixir Energy and APA Group have partnered to assess the optimal pipeline route for gas from the Lorelle pilot project to Queensland’s Wallumbilla Gas Hub, aiming to support future development decisions.

Key Petroleum Ltd (ASX:KEY) has completed a placement of over 3 million shares, raising approximately AUD 176,660 before costs to fund asset acquisitions, development, and working capital.

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.

Pilot Energy Limited has voluntarily suspended trading of its shares as it finalises critical funding and strategic initiatives, with a market update expected by April 8.

Metgasco has ended its asset sale agreement with Vintage Energy after funding conditions were unmet, signaling a strategic pivot amid ongoing exploration and recapitalisation efforts.

Duratec Limited has delivered its strongest half-year performance to date, reporting record revenue and gross profit across its diversified engineering and construction services. The company’s investor briefing highlighted robust order books, strategic growth in Defence and Energy sectors, and expansion into new regional markets.

Cue Energy Resources has lodged an application with the Takeovers Panel contesting Horizon Oil's off-market takeover bid, alleging undisclosed arrangements and anti-competitive conduct that could undermine a fair market for control.

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.

Matrix Composites & Engineering has received a non-binding, indicative proposal from Advanced Innergy Holdings to acquire all shares at $0.40 each. The offer is conditional and under review by the Matrix board.