Latest Surat Basin News

Bounty Oil & Gas has announced a significant board renewal, including the appointment of Kane Marshall as Chairman and the retirement of long-serving CEO Philip Kelso. These leadership changes mark a new chapter as the company pursues growth in its Australian oil and gas assets.

ASF Group Limited has settled a $1.07 million loan from Rey Resources by acquiring full ownership of Rey’s subsidiary holding stakes in key Queensland gas projects, marking a strategic shift from debt to asset-backed equity.

Eastern Gas Corporation Limited, a new ASX-listed subsidiary of Pure One Corporation, has lodged a Replacement Prospectus to raise $5.5 million for advancing its Queensland gas projects, targeting commercial production through horizontal drilling and fracture stimulation.

Australian Oil Company Limited has signed binding agreements to acquire strategic oil and gas assets in Queensland's Surat Basin, positioning itself for production growth and exploration opportunities.

Eastern Gas Corporation Limited, a Pure One subsidiary, has lodged a prospectus to raise $5.5 million to advance exploration and development of its Queensland gas assets, aiming for a standalone ASX listing.

Synertec has secured a pivotal contract to supply its zero-emission Powerhouse system to Shell QGC’s Coal Seam Gas operations in Queensland, marking a significant step in industrial decarbonisation.

Blue Energy has been granted a critical petroleum lease in Queensland and completed a $5.8 million capital raise, positioning itself to meet rising gas demand aligned with the Queensland Government’s new Energy Roadmap.

Bounty Oil & Gas reported a modest $272,000 in oil revenue for Q3 2025, boosted reserves in Queensland, and plans to restart Surat Basin production in 2026 while navigating ongoing legal challenges offshore Sydney.

Lakes Blue Energy marked a pivotal quarter with its ASX reinstatement, a $5.8 million capital raise, and completion of the Wombat-5 well, setting the stage for imminent production testing and resource upgrades.

Synertec Corporation has reported its strongest first quarter since FY19, driven by a 13% revenue increase and a new order for its Powerhouse microgrid units from Santos. The company’s engineering division also shows promising expansion with a robust project pipeline.

Emu NL has appointed Ian Davies, a seasoned energy sector leader, as a Non-Executive Director, signaling potential strategic momentum for the company.

Bounty Oil and Gas reported $1.09 million in oil revenue for FY 2025, boosted reserves to 313,000 barrels, and plans to double production with Surat Basin operations starting late 2025. Meanwhile, a Federal Court challenge looms over its Sydney Basin offshore permit.