OMA Awarded Large New Taroom Trough Acreage Setting Up 2026
| Stock | Beach Energy Ltd (BPT.ASX) |
|---|---|
| Release Time | 10 Feb 2026, 8:41 a.m. |
| Price Sensitive | Yes |
Omega Awarded Large New Taroom Trough Acreage Setting Up 2026
- Extensive 750 sq km acreage awarded to Omega-led joint venture with Tri-Star and Beach
- Expands Omega's position in the Taroom Trough to 5,041 sq km, the largest in the basin
- Planned 2026 drilling campaign to delineate multiple stacked reservoirs and identify 'sweet spots'
Omega Oil and Gas Limited (ASX:OMA) has been awarded a large new 750 sq km acreage in the Taroom Trough, in a joint venture with Tri-Star E&P Ltd (30%) and Beach Energy Limited (25%). This new acreage, designated PLR2025-1-9, is located immediately north of Omega's existing 1,046 sq km Potentially Commercial Areas (PCAs), significantly expanding Omega's operated acreage position over the prime, highly prospective eastern flank of the Taroom Trough. Omega now holds a commanding 5,041 sq km acreage position in the basin, the largest in the region. The Taroom Trough is emerging as a major new oil and gas province, with the eastern flank containing highly attractive geology with five stacked Permian reservoir layers. Omega, Tri-Star and Beach bring complementary technical expertise, balance sheet strength and execution capability to rapidly appraise the resource potential. A substantial 2026 drilling campaign is planned, utilizing the H&P FlexRig 648, to delineate the quality and extent of the multiple reservoir layers, identify 'sweet spots', and mature Omega's resource and reserve base, positioning the company to move towards development. This award marks Beach's entry into the Taroom Trough and Tri-Star taking a 30% stake in the new acreage, in addition to its equity shareholding in Omega.
Omega is well funded for a four well program in 2026/27 with access to approximately $54 million inclusive of expected R&D refunds. Omega will fund 45% of costs in PLR2025-1-9.
Omega's 2026 drilling campaign is designed to delineate the quality and extent of multiple, 'stacked' reservoir levels, identify 'sweet spots' and mature Omega's resource and reserve base, positioning the company to emerge from 2026 with a clear pathway to development and a step-change in scale and value.