• Omega Oil & Gas identifies a new Permian unconventional oil and gas play in the Taroom Trough
• The company has a significant acreage position and a funded appraisal program
• Omega's strategy focuses on de-risking, demonstrating scale, and delivering pilot projects
• The play has potential for hundreds of millions of barrels of liquids and commercial flow rates
• Government and industry support for the Taroom Trough development plan

Omega Oil & Gas Ltd has identified a new Permian unconventional oil and gas play in the Taroom Trough, a potential billion BOE resource. The company has a commanding position with a large acreage holding and a funded appraisal program. The 2026/27 appraisal program aims to de-risk the play, demonstrate its extent, and mature resources and reserves. Omega's strategy focuses on de-risking, demonstrating scale, and delivering pilot projects. The company has already delivered proof points such as resource certification, flow rates from horizontal wells, and EUR modeling. The Taroom Trough Development Plan, led by the Queensland Office of the Co-Ordinator General, involves operators, infrastructure providers, and local councils. The location of the resources is close to existing infrastructure and demand centers, providing a clear pathway to market.

Omega Oil & Gas Ltd expects to achieve several milestones over the next 12 months, including the award of ATP 2081, commencement of civil works for the first well location, and the commencement of stimulation and 6-month flow testing of the first horizontal well. These milestones will provide further evidence of the play's scalability and commercial potential.