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Omega Oil & Gas Limited ( (AU:OMA) ) has shared an update.
Omega Oil & Gas Limited has received a $7.3 million refundable R&D tax offset for the 2022/23 financial year, which strengthens its balance sheet and supports its ongoing work on the Canyon Project. This financial boost is expected to enhance Omega’s ability to unlock the full potential of its projects, positioning the company as a significant player in Australia’s energy sector.
The most recent analyst rating on (AU:OMA) stock is a Buy with a A$0.64 price target. To see the full list of analyst forecasts on Omega Oil & Gas Limited stock, see the AU:OMA Stock Forecast page.
More about Omega Oil & Gas Limited
Omega Oil and Gas Limited is an Australian exploration company focused on exploiting the oil and gas potential of Queensland’s Taroom Trough in the southern Bowen Basin. Founded in 2020, Omega has demonstrated significant hydrocarbon potential through its Canyon-1H well, which revealed substantial oil and gas flows. The company employs innovative horizontal drilling and fracture stimulation techniques, aiming to supply both domestic and LNG export markets.
Average Trading Volume: 370,743
Technical Sentiment Signal: Hold
Learn more about OMA stock on TipRanks’ Stock Analysis page.