Latest Oil Exploration News

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88 Energy has raised A$5 million through a heavily oversubscribed placement to advance pre-drilling activities for its high-potential Augusta-1 well in Alaska, targeting significant oil resources in the North Slope.
Maxwell Dee
Maxwell Dee
27 Mar 2026
Vintage Energy has launched a $2.1 million equity entitlement offer to fund drilling two new gas wells, supported by a South Australian government grant, and to advance oil exploration in the Cooper Basin.
Maxwell Dee
Maxwell Dee
20 Mar 2026
Vintage Energy launches a $2.1 million entitlement offer to fund critical oil prospect evaluations and install a permanent connection to the Odin gas field, aiming to cut operating costs and advance drilling plans.
Maxwell Dee
Maxwell Dee
17 Mar 2026
Condor Energy has updated its corporate presentation revealing significant progress in Peru’s Tumbes Basin, highlighting a 1 trillion cubic feet gas discovery and a multi-billion barrel oil exploration portfolio. The company is moving towards converting its evaluation agreement into a full exploration licence while advancing commercial discussions for gas offtake.
Maxwell Dee
Maxwell Dee
11 Mar 2026
88 Energy has released a significant update to its South Prudhoe prospective resource estimates, revealing over 500 million barrels of oil and NGLs gross across multiple reservoirs on Alaska’s North Slope. The company is advancing well planning and farm-out talks targeting a 2027 drilling campaign.
Maxwell Dee
Maxwell Dee
19 Feb 2026
Beach Energy’s Q2 FY26 report reveals a 9% production decline amid Otway Basin slowdowns, offset by flood recovery and the Waitsia Gas Plant ramp-up, with sales revenue down 17% to $445 million.
Maxwell Dee
Maxwell Dee
21 Jan 2026
Lion Energy has struck a pivotal farm-out deal with OPIC, securing 88% funding for its 2026 Bula Karang exploration well in Indonesia’s East Seram PSC, significantly reducing its financial exposure while retaining substantial upside.
Maxwell Dee
Maxwell Dee
6 Jan 2026
Pancontinental Energy NL has revealed significant progress in its Namibian Orange Basin exploration, spotlighting a massive 5 billion barrel oil prospect in PEL 87 and advancing farmout efforts to fund upcoming drilling.
Maxwell Dee
Maxwell Dee
28 Nov 2025
Red Sky Energy has completed drilling the Killanoola-2 well in South Australia, confirming hydrocarbons but facing low permeability challenges. The well is now suspended, with plans for future completion and stimulation to unlock production potential.
Maxwell Dee
Maxwell Dee
3 Nov 2025
Carnarvon Energy has made a significant A$86 million investment in Strike Energy, becoming its largest shareholder and gaining exposure to Western Australia’s growing gas market, while deferring Bedout drilling to early 2027 due to rig shortages.
Maxwell Dee
Maxwell Dee
30 Oct 2025
Elixir Energy has commenced drilling the Diona-1 conventional gas-oil exploration well in Queensland’s Surat-Bowen Basin, aiming to unlock new production potential and secure long-term asset retention.
Maxwell Dee
Maxwell Dee
29 Sept 2025
Invictus Energy has extended its Exclusive Prospecting Orders in Zimbabwe’s Cabora Bassa Basin for another three years, setting the stage for a high-impact exploration campaign including the Musuma-1 well targeting substantial gas and condensate resources.
Maxwell Dee
Maxwell Dee
15 Sept 2025