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Omega Oil & Gas Limited ( (AU:OMA) ) just unveiled an update.
Omega Oil & Gas has completed a $14.6 million investment in Elixir Energy, securing a 19.43% equity stake and nominating two directors to Elixir’s board, a move designed to expand its footprint and influence across the Taroom Trough and gain exposure to drilling on the western flank, including the Lorelle-3 well. Backed by approximately $54 million in available funding, Omega is preparing a substantial 2026–27 appraisal drilling campaign on the eastern flank of the Taroom Trough, with up to seven wells planned using H&P’s FlexRig 648 to materially de-risk and expand the Canyon Project resource base, reinforcing its strategic positioning in the Eastern Australian gas market and its goal of delivering a step-change in scale and shareholder value.
The most recent analyst rating on (AU:OMA) stock is a Hold with a A$0.49 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 ASX-listed exploration and production company focused on gas and liquids in Australia’s Taroom Trough, particularly through its Canyon Project on the eastern flank. The company is building a portfolio of interests across both western and eastern parts of the basin, aiming to become a preferred industry partner in supplying gas and potentially oil to the Eastern Australian market amid growing domestic energy security concerns.
Average Trading Volume: 673,273
Technical Sentiment Signal: Buy
Current Market Cap: A$210.7M
For detailed information about OMA stock, go to TipRanks’ Stock Analysis page.