Omega Oil & Gas Confirms Extensive Oil and Gas System in Taroom Trough

An update from Omega Oil & Gas Limited ( (AU:OMA) ) is now available.

Omega Oil and Gas Limited has announced the completion of a cased hole logging program at its Canyon-2 well, confirming an extensive oil and gas petroleum system in the Taroom Trough. The results indicate strong commercial potential, with ongoing preparations for further seismic acquisition and drilling programs. The company is focused on converting contingent resources to reserves and engaging strategic partners for development funding, aiming to enhance its market position and supply the east coast market.

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 energy company focused on the exploration and development of oil and gas resources. The company holds 100% ownership of Potential Commercial Areas 342 and 343 in Queensland’s Bowen Basin, with a strategic priority to accelerate the appraisal of its Canyon Project area to supply the east coast market with new sources of oil and gas.

Average Trading Volume: 757,697

Technical Sentiment Signal: Sell

For a thorough assessment of OMA stock, go to TipRanks’ Stock Analysis page.