Latest Prospective Resources News

Parabellum Resources has reported an initial 4.8 million tonne nickel-cobalt resource at its Redlands Project in New South Wales. The exploration-stage milestone comes with recommendations for more drilling and technical work, while the company held $689,000 in cash at quarter-end.

Prominence Energy has outlined 4,001 Bscf of gross unrisked 2U natural hydrogen prospective resources across 28 Northern Hinge leads in South Australia. The scale is notable, but the portfolio remains undiscovered, permits are still pending and RISC Advisory flagged potentially optimistic trap and seal assumptions.

Condor Energy has secured formal qualification from Peru’s state oil and gas agency, allowing it to negotiate a proposed exploration and exploitation licence for offshore Block Z-72. The milestone moves the project forward, but it is not a final licence award.

Carnarvon Energy is lining up Ara as the likely firm well in its 2027 Bedout campaign, backed by a contracted rig, environmental approvals progressing and A$97 million in cash. The prospect carries 191 million barrels of oil equivalent in gross unrisked prospective resources, but only a 37% geological chance of success and uncertain fluid type.

Finder Energy is targeting a final investment decision for its Kuda Tasi-Jahal oil project by 30 November, with approvals and engineering largely complete. The decisive hurdles now sit in financing and contract awards, including the rig, shipyard and EPCI packages.

88 Energy says multiple bids have been received for a farm-out of its South Prudhoe Project, with negotiations continuing toward a preferred partner. Preparations for the Augusta-1 exploration well are advancing, but the planned Q1 2027 spud still depends on farm-out completion and financing.

Macallum New Energy has lifted the arithmetic mean prospective gas resource across its EP 494 portfolio to 2,506 PJ after new 3D seismic and reprocessed 2D data sharpened several targets. The company is now seeking a joint venture partner for up to two exploration wells targeted for the second half of 2027.

Prospect Resources has reported its first Phase 3 infill assays from Nyungu Central, including 18 metres at 1.31% copper, while extensional drilling continues to identify broad mineralisation beyond the existing resource. Twenty Nyungu Central assay results remain pending as the company advances toward a Q1 2027 Mumbezhi Scoping Study.

Botala Energy’s Serowe CBM project has reached its most important testing phase after well 3.5B delivered strong early water production and casing pressure. The operational progress is material, but the company still faces a funding hurdle and has not yet demonstrated sustained commercial gas flow.

H3 Energy has consolidated ownership of its Alinya hydrogen and helium project and reframed Warro as a potential commercial gas development, but its annual report warns that funding remains critical. The company ended FY2026 with A$900,434 in cash, net liabilities of A$551,671 and a material uncertainty over its ability to continue as a going concern.

Emperor Energy has secured NOPSEMA approval for the Judith-2 appraisal well, removing a major regulatory barrier ahead of targeted drilling in April 2027. The well will test a 166 Bcf contingent gas resource and investigate deeper prospective sands, although commercial conversion remains unproven.

Emperor Energy has moved its Judith Gas Field closer to a targeted April 2027 appraisal well, with the VALARIS 107 rig lined up and regulatory work advancing. But the company’s auditor has highlighted a material uncertainty over its ability to continue as a going concern, with management forecasting a need to raise about $45 million through September 2027.