Latest Oil And Gas News

Bass Oil reported steady oil production and a significant cash reserve increase in the June quarter, while strategically acquiring the Vanessa gas field to pivot towards gas production.

Lakes Blue Energy has secured $6.5 million in new capital and is set to begin drilling the Wombat-5 gas well, targeting near-term supply to Victoria’s east coast market. Meanwhile, its Nangwarry carbon dioxide project moves forward with a fully funded feasibility study.

Grand Gulf Energy has secured an exclusive option for a major offshore Namibia oil block with over a billion barrels prospective resource and signed a strategic MoU to jointly explore helium and potash in Utah’s Paradox Basin.

Lion Energy has made steady progress on its Port of Brisbane Green Hydrogen Project while moving closer to securing funding for a key drilling operation in Indonesia’s East Seram PSC.

Rey Resources reports continued exploration progress in Western Australia's Canning Basin alongside a stable financial footing supported by substantial shareholder loans.

Condor Energy’s maiden independent resource estimate confirms a multibillion barrel prospective oil resource offshore Peru, supported by enhanced seismic data and ongoing gas commercialisation studies.

MEC Resources has boosted its investment in Advent Energy, navigates ongoing PEP-11 permit legal challenges, and highlights promising developments in clean hydrogen production.

BPH Energy’s June quarter update highlights ongoing legal proceedings over the PEP-11 permit, promising progress in AI-driven brain monitoring technology, and strategic moves toward hydrogen production facilities, supported by a robust cash reserve.

NuEnergy Gas Limited has completed drilling two wells at its Tanjung Enim PSC in Indonesia, advancing its early gas sales initiative targeting 1 million cubic feet per day. The company is finalizing a major gas sales agreement pending government approval.

Central Petroleum Limited reports a robust 22% increase in full-year revenue for FY25, driven by new gas sale contracts and strong operational cash flows. Production at key fields remains steady despite temporary constraints.

Fitzroy River Corporation reported steady royalty income for the March 2025 quarter despite operational suspensions at Buru and ongoing geopolitical risks impacting commodity markets. Key project updates include Bowdens Silver’s development application progress and Federation Mining’s Snowy River feasibility study.

Carnarvon Energy has committed up to A$89 million to acquire a near 20% stake in Strike Energy, marking a strategic pivot towards Western Australia’s burgeoning gas market while maintaining strong liquidity and advancing exploration plans.