Latest Oil And Gas Exploration News

Invictus Energy's Cabora Bassa Project in Zimbabwe has been officially granted National Project Status, alongside finalising key terms of its Petroleum Production Sharing Agreement, marking a significant step towards commercial gas production.

Omega Oil and Gas confirms the commercial viability of its Canyon Sandstone reservoir in Queensland’s Taroom Trough, with SLB modelling indicating nearly 1 million barrels of oil equivalent per well and significant upside potential.

Melbana Energy has successfully raised $7 million through a discounted share placement with attaching and bonus options, aiming to finance drilling at its Amistad-2 well and support general corporate needs.

Xstate Resources has received pre-approval to acquire a 51% stake in the Diona project, setting the stage for drilling operations and ASX trading resumption by late September.

Xstate Resources has secured over $2 million from more than 300 new investors in its Re-compliance Prospectus offer, positioning itself for a potential return to ASX trading by early September.

Xstate Resources has extended its Re-compliance Prospectus Offer deadline to 21 August 2025, aiming to meet ASX conditions for re-admission by raising at least $2 million from 300 new investors.

Key Petroleum Limited has appointed Yan Zhao as Managing Director, bringing over two decades of mining and exploration expertise to the helm. The move signals potential strategic shifts amid a modest remuneration package.

Whitebark Energy has confirmed a substantial update to its prospective hydrocarbon resources in South Australia's Officer Basin, with an independent assessment revealing 4.3 trillion cubic feet of gas and 1.3 billion barrels of liquids across key permits.

Emperor Energy has secured a significant upgrade to its Judith Gas Field resources following an independent audit, alongside a $3.7 million capital raise to fund the upcoming Judith-2 appraisal well scheduled for mid-2026.

Gas2Grid Limited is on the cusp of securing three key service contracts in the Philippines, aiming to revive its exploration activities despite looming ASX delisting. Meanwhile, its legal battle in France continues to unfold.

Beetaloo Energy Australia Limited reported significant cash outflows from exploration activities in Q2 2025, balanced by strong financing inflows that secure its liquidity for the near term.

Tlou Energy Limited’s latest quarterly cash flow report reveals a cautious financial position with A$2.74 million in available funding, supporting approximately 2.5 quarters of operations as exploration activities continue.