OMA - Omega Oil & Gas

[System]

Omega Oil & Gas Limited is an energy and resources company focused on natural gas exploration and oil production. The Company holds two explorations permits (ATP 2037 and 2038) and a petroleum licence (PL 17) in the Surat-Bowen Basin in South-East Queensland, Australia.

Following its IPO, Omega intends to execute a two well drilling campaign across both, ATP 2037 and 2038, focusing on the Kianga Formation in the Permian. This drilling campaign seeks to understand two things; validate basin centred play, specifically the feasibility of commingled multi-facies production in the Taroom Trough and to prove commercial prospectivity of the Permian Deep Gas by the application of a fit-for-purpose low cost well design.

The success of these activities will ultimately prove viability of future gas and liquids development. This drilling campaign, if successful, will materially de-risk the Taroom Trough as a future gas producer in the years to come.

It is anticipated that OMA will list on the ASX during October 2022.

Omega Oil – The Next Chapter in Australian Energy

omegaoilandgas.com.au

 

[Dona Ferentes]

Listing date	11 October 2022 ; 10:30 AM AEDT##
Company contact details	https://omegaoilandgas.com.au/ Ph: + 61 2 9199 9627
Principal Activities	Gas exploration and oil production
GICS industry group	TBA
Issue Price	AUD 0.20
Issue Type	Ordinary Fully Paid Shares
Security code	OMA
Capital to be Raised	$15,000,000
Expected offer close date	23 September 2022
Underwriter	Not underwritten. Prenzler Group Pty Ltd (Lead Manager)

 

[Sean K]

Anyone know if this is good?

Hanging around it's list price. Not much excitement to date.

Has drilling for gas in QLD even got a future?

 

[eskys]

Yesterday's article was OMA, or was it the day before, can't remember precisely.....something said about director or directors bought shares.....just realised Donna had posted about this too.

 

[Dona Ferentes]

For industry insiders, the Taroom Trough, stretching more than 50,000 square kilometres, has shot into the limelight over the past several months, spurred by the circulation in September of photos of gas flares resulting from drilling by Shell, the results of which were kept confidential.

Since then, well results released by Omega Oil and Gas, backed by longstanding coal seam gas investor Tri-Star Petroleum and billionaire businessman Brian Flannery, have grabbed more attention.
The Queensland government is well aware of the prize on offer, with Natural Resources Minister Dale Last saying the region shows “incredible potential, not just for gas but also for oil”.

“I am watching Omega Oil and Gas’ recent discovery in the Taroom Trough with great interest,” he said.

For others, however, the significance of the Taroom and the opportunity it presents for the economy and energy security remain largely unknown, partly because of the shroud of secrecy Shell has drawn over its activities.
Omega chief executive Trevor Brown.
“The Taroom Trough is looking like a huge province – I’m talking tens of [trillions of cubic feet] of gas and hundreds of millions of barrels, if not billions of barrels of liquids,” Omega chief executive Trevor Brown said.

The former Santos senior executive said the chance for Taroom to match up to the Bass Strait – the origin of Australia’s decades-long history of cheap energy – was “not outside the realms of possibility”.
It’s not all just talk of a future vision. Brown said Brisbane-based Omega – chaired by former BG Group executive Martin Houston, who led BG’s takeover of Queensland Gas Company in 2008 – could be selling oil to customers such as Ampol’s Brisbane refinery in two years. Gas sales into the east coast could follow this decade.