Omega expands Taroom Trough footprint with major new acreage award

Omega Oil & Gas Limited ( (AU:OMA) ) has shared an update.

Omega Oil & Gas has been awarded a 750 square kilometre exploration block in Queensland’s Taroom Trough as operator of a joint venture with Tri-Star E&P and Beach Energy, expanding its operated position north of its existing Potentially Commercial Areas. The award consolidates Omega’s commanding acreage interest in the basin to 5,041 square kilometres, the largest in the Taroom Trough, with all gas from the new block designated for Australia’s domestic market.

Backed by approximately $54 million in available funding, Omega plans to integrate drilling on the new acreage into an expanded 2026/27 campaign of at least four wells, leveraging successful Canyon well results and existing seismic and well data to fast-track appraisal. Partnering with Tri-Star and Beach, the company aims to accelerate exploration and appraisal from as early as the second half of 2026, positioning the Taroom Trough as a potential major new source of domestic oil and gas supply and potentially lowering East Coast gas prices.

The most recent analyst rating on (AU:OMA) stock is a Buy with a A$0.56 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 & Gas Limited is an Australian exploration company focused on unlocking oil and gas resources in Queensland’s Taroom Trough. The company targets both oil and gas in a proven hydrocarbon system on the eastern flank of the basin, aiming to supply the domestic market and strengthen Australia’s energy security.

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Technical Sentiment Signal: Buy

Current Market Cap: A$194.3M

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