Latest Petroleum Exploration News

MEC Resources Ltd reported a half-year loss of $431,971 amid ongoing legal challenges over key gas exploration permits, while progressing investments in clean energy and neurotechnology. The company also completed a $359K options placement, reinforcing its financial position.

BPH Energy Ltd reported a half-year net loss of $925,691, weighed down by investment write-downs and associate losses, while raising $1.2 million to fund exploration and development. The company’s future hinges on a Federal Court review of a critical offshore permit held by investee Advent Energy.

Prominence Energy has begun preparatory work for its first geochemical survey in South Australia's PEL 803, aiming to detect natural hydrogen and helium as part of the Gawler Hydrogen Project.

88 Energy advances its Namibia exploration with a planned high-resolution airborne survey and bolstered confidence from nearby successful drilling results.

Kairos Minerals has been granted a 21-year mining lease for its 1.4 million ounce Mt York Gold Project in Western Australia, marking a pivotal step towards advancing the project into production.

Grand Gulf Energy has progressed its Petroleum Exploration Licence application offshore Namibia and continued development discussions for its Red Helium Project, maintaining a disciplined capital approach during the December 2025 quarter.

Central Petroleum has completed its acquisition of strategic interests in the Otway and Cooper Basins, setting the stage for a multi-well exploration campaign starting in the second half of 2026.

Prominence Energy has secured the last regulatory approval needed to complete its acquisition of the Gawler Hydrogen Project, setting the stage for exploration of natural hydrogen in South Australia.

Grand Gulf Energy progresses its Petroleum Exploration Licence application offshore Namibia and advances seismic survey planning for its Red Helium project, while exploring strategic partnerships to enhance growth.

Prominence Energy has extended its agreement to acquire the Gawler Hydrogen Project, allowing more time to secure final regulatory approvals and advance exploration in South Australia.

Prominence Energy has achieved a pivotal milestone with the award of Petroleum Exploration Licence 803 for its Gawler Hydrogen Project, positioning itself as a key player in Australia's emerging natural hydrogen sector. The company also strengthened its leadership team and completed a $1.75 million capital raise to fund its growth ambitions.

Bridgeport Energy reports stable petroleum reserves of 4.1 million barrels of oil equivalent and 4.9 million barrels of contingent resources as of July 2025, underpinning its ongoing production and future gas development plans.