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Beach Energy Limited (ASX:BPT)

ALERT: Price-sensitive ASX Announcement for BPT
Current share price for BPT : $0.890 -0.255 (-22.27%)+
Announcement
Release
10 Feb 2026 8:41AM
Price at Release
$1.145
Full Release
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Summary
Omega Oil and Gas Limited, along with partners Beach Energy Limited and Tri-Star E&P Ltd, has been awarded a significant new acreage in the Taroom Trough, which represents a strategic expansion in the deep Permian unconventional oil and gas play. The joint venture aims to rapidly explore and appraise the area to unlock its oil and gas potential. With Omega operating a 45% interest, and substantial drilling campaigns planned for 2026, the partners are set to apply their combined expertise to bring resources to market as soon as possible. This initiative is endorsed by the Queensland Government, highlighting the region's potential for significant oil and gas volumes.
Key Points
  • OMA awarded large new Taroom Trough acreage with Omega operating a 45% interest.
  • Joint venture includes Tri-Star E&P Ltd with 30% and Beach Energy Limited with 25%.
  • The awarded area expands Omega's acreage in the deep Permian unconventional oil and gas play.
  • Strategic partnership aims to rapidly determine the resource potential of PLR2025-1-9.
  • Substantial drilling campaigns planned for 2026 using H&P FlexRig 648.
  • Omega's strategy focuses on accelerated exploration and appraisal to bring resources to market quickly.
  • Trevor Brown, Omega's CEO, highlights the Taroom Trough's potential for significant oil and gas volumes.
  • Beach Energy is eager to apply its expertise in the Taroom Trough to unlock value.
  • Tri-Star commends the Queensland Government's efforts to support increased East Coast gas supply.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.