Latest Oil And Gas News

Melbana Energy halts direct involvement in its Cuban Block 9 project following US sanctions on CUPET, its contractual counterparty, while it seeks legal clarity on the complex regulatory landscape.

Bounty Oil & Gas has finalised the first tranche of a $4 million share placement and converted $200,000 of debt into shares, bolstering its capital for drilling and development across Australian oil and gas projects.

Galilee Energy is gearing up to drill its Zydeco-1 well in Louisiana this July, aiming to kickstart near-term cash flow from a low-cost, low-risk gas-condensate project. The company’s newly formed US advisory board supports a strategy to scale production through repeatable Gulf Coast asset acquisitions.

Botala Energy’s central production well 3.5B at the Serowe CBM Project in Botswana has completed key pre-stimulation steps, setting the stage for a multi-stage stimulation program and a 90-day flow test to evaluate commercial gas production potential.

AXP Energy has struck a farm-in deal to earn a 25% interest in Block 9, a prolific onshore Syrian oil and gas contract with substantial historical prospective resources, positioning the company amid a reopening Middle East energy market.

Galilee Energy has begun site preparation for its Zydeco-1 well in Louisiana, on track for a July 2026 spud targeting up to 8 billion cubic feet of gas and 0.5 million barrels of condensate.

BPH Energy and Bounty Oil & Gas await a Federal Court judgement on their challenge against the refusal to extend the PEP-11 offshore permit. The decision, reserved since February, will be handed down mid-June, potentially shaping the companies' exploration prospects.

Sparc Technologies secures its first international commercial partner as Petro Vietnam Paint commits to using ecosparc® in its PERAPHENE coatings range, targeting highly corrosive environments with improved anticorrosion performance.

Swift TV Ltd has secured $2.33 million through a $1.9 million placement and a $430,000 debt conversion, boosting its capacity to deliver contracted deployments and expand recurring revenue streams.

Bounty Oil & Gas NL has issued a prospectus offering over 632 million new options to eligible investors as part of a broader recapitalisation, potentially raising $6.3 million if exercised.

Macallum New Energy has expanded its exploration prospects in the underexplored southern North Perth Basin with a new oil and gas prospect, Aberfeldy, and plans to pursue helium and hydrogen exploration following recent regulatory changes.

Matrix Composites & Engineering has lodged its Scheme Booklet with ASIC, setting the stage for a July shareholder vote on its proposed acquisition by Advanced Innergy Holdings. The deal, backed by an Independent Expert and the Matrix board, awaits court approval and shareholder endorsement.