OMA Awarded Prospective Taroom Trough Acreage - Inc Area 63%

Key points

• Omega-led Joint Venture selected by Queensland Government for PLR2026-1-10
• Land release area covers 1,138km2, increasing operated acreage by 63%
• New acreage situated within over-pressured section of the basin

Full summary

Omega Oil & Gas Limited, in a joint venture with Tri-Star E&P Ltd and Beach Energy Limited, has been selected by the Queensland Government as the preferred tenderer for a newly released land area, PLR2026-1-10. This award significantly expands Omega's operated acreage by 63%, from 1,809km2 to 2,947km2. The new land area is located on the eastern flank of the Taroom Trough, adjoining Omega's existing Canyon PCA Area. The additional acreage is interpreted to contain the continuation of the eastern flank fairway and an extension of the six stacked Permian reservoir intervals identified across Omega's existing acreage. The award reflects the Queensland Government's confidence in the joint venture's appraisal strategy and technical capability.