Omega Oil & Gas Limited (AU:OMA) has released an update.
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Omega Oil & Gas Limited has commenced drilling the Canyon-1H horizontal well in Southern Queensland, aiming to tap into the significant gas reserves of the Permian Canyon Sandstone. The drilling process is anticipated to last 3 to 4 weeks, after which a comprehensive testing program will follow to assess the well’s economic viability. This venture represents a crucial step for Omega in potentially providing new gas supplies to Eastern Australia.
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