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Omega Oil & Gas Limited (ASX:OMA)

ALERT: Price-sensitive ASX Announcement for OMA
Current share price for OMA : $0.635 0.205 (47.67%)+
Announcement
Release
10 Feb 2026 8:41AM
Price at Release
$0.430
Full Release
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Summary
Omega Oil and Gas Limited (ASX:OMA) has been awarded a large new acreage, PLR2025-1-9, in Queensland's Taroom Trough, expanding their operated acreage to 5,041 square kilometres. The joint venture for this award includes Omega holding a 45% interest, Tri-Star E&P Ltd with 30%, and Beach Energy Limited with 25%. The newly awarded area is situated north of Omega's existing Potentially Commercial Areas (PCAs) and is intended to supply the domestic market. The venture aims to utilize the H&P FlexRig 648 for an extensive 2026/27 drilling campaign to determine the resource potential of stacked Permian reservoir layers. Omega plans to commence drilling operations in May 2026, with results expected mid-year. The venture is viewed as an opportunity to enhance Australia's energy security and is backed by strong technical and financial partners.
Key Points
  • Omega awarded large new acreage in Taroom Trough.
  • Joint venture includes Omega 45%, Tri-Star 30%, Beach Energy 25%.
  • New area covers 750 square kilometres, expanding Omega's position.
  • Focus on supplying domestic market and enhancing energy security.
  • Planned drilling campaign with H&P FlexRig 648 starting May 2026.
  • Strategic partnership aims to unlock significant oil and gas potential.
  • Award complements existing Omega projects and expands PCA areas.
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.