Latest Oil And Gas News

Basin Energy Limited reported a challenging cash flow quarter ending December 2025, offsetting operational outflows with financing inflows and strategic asset sales. The company remains confident in sustaining operations amid variable exploration costs.

Triangle Energy has secured new offshore and onshore permits in the Philippines while initiating legal action against JV partners in Western Australia, signaling a strategic pivot and operational challenges ahead.

ASF Group Limited closed December 2025 with $1.91 million in cash and nearly four quarters of funding runway, while progressing key investments in mining, technology, and biotech sectors.

MEC Resources has bolstered its stake in Advent Energy with a $1.55 million loan while navigating a pivotal Federal Court hearing on the PEP 11 Joint Venture. Meanwhile, progress on Clean Hydrogen Technology signals potential growth avenues.

Bass Oil Limited reported a 7.9% rise in quarterly oil sales revenue and a 7.4% increase in production, alongside a pivotal gas sales agreement with Origin Energy for the Vanessa gas field, pending regulatory approval.

Omega Oil and Gas has secured a 19.43% stake in Elixir Energy, positioning itself for a major drilling push in Queensland’s Taroom Trough during 2026. Backed by a strong balance sheet, Omega aims to unlock significant gas and oil resources across multiple projects.

Mandrake Resources advances its Utah Lithium Project with a significant 3.3Mt lithium carbonate equivalent inferred resource, alongside key agreements for lithium offtake and uranium recovery.

Elixir Energy has secured a $16.6 million capital injection led by Omega Oil and Gas, propelling its high-impact Lorelle-3 appraisal well drilling and expanding contingent gas resources in Queensland’s Taroom Trough.

Melbana Energy’s Q4 2025 report reveals a complex quarter with drilling setbacks in Cuba due to partner payment issues, alongside significant resource upgrades offshore Australia.

Otto Energy reported stable oil and gas production for the December quarter, supported by a strong cash position and strategic board changes. Despite a dip in oil prices, the company’s focus on cash flow and cost management positions it well for the year ahead.

Pilot Energy has successfully raised $3.44 million through a placement to fund its Cliff Head operations and emerging carbon capture projects, signalling a strategic push into clean energy transition.

Key Petroleum Limited progresses its Potential Commercial Area applications in Queensland’s Cooper-Eromanga Basin, anticipating government approval by year-end, while planning a capital raise to bolster its limited cash reserves.