Latest Oil Gas Exploration News

ADX Energy has identified seven drill-ready shallow gas prospects in its Upper Austria licences, with a multi-well drilling program planned for late 2025. The company aims to leverage advanced seismic data and cluster development to optimise production and reduce costs.

Bass Oil Limited has raised $925,180 through a non-renounceable rights issue, aiming to complete its Vanessa Acquisition and fuel future growth initiatives.

Top End Energy updates its Northern Territory exploration strategy amid record gas flow tests in the Beetaloo Basin, signaling a shift from appraisal to development.

Lakes Blue Energy has raised $6.5 million through a fully underwritten placement to fund the drilling and testing of its Wombat 5 appraisal well in Victoria, positioning itself to address looming gas shortages on Australia’s east coast.

Lakes Blue Energy has obtained Victorian government approval to drill the Wombat-5 appraisal well, a key step toward unlocking significant gas resources amid looming East Coast supply shortages.

Vintage Energy has agreed to sell its entire 25% interest in the PEP 171 permit in Victoria’s Otway Basin to Beach Energy for $1.25 million, marking a strategic pivot towards its Southern Flank gas fields project.

Empire Energy Group has successfully closed and upsized its Share Purchase Plan to $7 million, raising crucial funds to advance its Beetaloo Basin projects. The capital raise strengthens the company’s cash position ahead of key operational milestones.

Kinetiko Energy has completed a $2.2 million placement, supported by directors and major shareholders, to advance its gas exploration and production testing in South Africa’s Mpumalanga Province. Initial production test results are expected in July 2025.

Condor Energy has significantly enhanced its exploration prospects offshore Peru through advanced reprocessing of legacy 2D seismic data and a comprehensive geochemical review, boosting confidence in large prospective oil resources.

Tamboran Resources has successfully closed the first tranche of its PIPE, raising US$38.7 million to advance its Beetaloo Basin projects, with a second tranche pending shareholder approval.

FAR Limited has been formally hit with a $6 million claim from Woodside Energy related to unrecoverable petroleum expenditures in Senegal, raising questions about potential financial exposure.

ADX Energy has formalised licence amendments and identified four drill-ready shallow gas prospects in Upper Austria, targeting Q4 2025 for initial drilling. The company is advancing farm-in discussions to capitalise on a low-risk, pipeline-proximate gas opportunity in a sought-after European market.