Omega Oil & Gas expands strategic position in “red hot” Taroom Trough

• Queensland government selects Omega-led JV as preferred tenderer for new Taroom Trough release
• Land release covers 1,138 sq. km within the highly prospective eastern flank
• Consolidates Omega’s strong position in the Taroom Trough
• On trend with Omega’s Canyon project area

Omega Oil & Gas (ASX: OMA) is set to add strategic acreage to its already strong position in the “red hot” Omega Trough shale play Queensland.

An Omega-led joint venture has been selected by the Queensland government as the preferred tenderer for a newly released land area, PLR2026-1-10.

The joint venture comprises Omega (45% and operator), Tri-Star E&P (30%) and Beach Energy (25%) (ASX: BPT).

Omega CEO and MD, Trevor Brown, said the preferred tenderer selection builds on a series of significant milestones for the Taroom Trough, including the Queensland government’s implementation of the Taroom Trough Development Plan and Omega’s ongoing, fully funded 2026/27 appraisal program.

“The award of this highly prospective land release area is an important strategic outcome for our joint venture providing us an additional opportunity to demonstrate the enormous resource potential of the Taroom Trough,” Mr Brown said.

“The award reinforces our conviction in the prospectivity of the eastern flank of the Taroom Trough and provides the JV with exposure to a large, prospective new acreage area in the southern Taroom Trough.

“The new land area materially expands Omega’s acreage footprint and combined with the results of our ongoing, extensive appraisal program, strengthens our ability to evaluate and develop the Taroom Trough at basin scale.”

Mr Brown told shareholders that importantly, the Queensland government has identified the Taroom Trough as a strategically important energy province by implementing the Taroom Trough Development Plan.

“Together with our current appraisal program and our expanded acreage position, this provides a strong foundation for working with the Queensland government to bring a nationally significant, new domestic source of energy security to market as quickly as possible.

“As Australia seeks secure, reliable and affordable energy, Omega is well positioned to play a leading role in supplying domestically produced oil and gas for decades to come.”

OMA was steady at 10.8¢ with as Mkt cap of $109.7M prior to markets opening.

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