Omega Oil & Gas expands Taroom Trough land by 63%

• Omega Oil & Gas has been selected as the preferred tenderer for 1,138km2 of petroleum land in Queensland's Taroom Trough.
• The joint venture award increases the company's operated area by 63% to a total of 2,947km2.
• The expansion aims to scale the company's resource base alongside its ongoing 2026 and 2027 appraisal drilling programme.

Omega Oil & Gas (ASX:OMA) has secured preferred tenderer status for a 1,138km2 petroleum land release area in Southern Queensland.

The new release block increases the company's total operated acreage in the region from 1,809km2 to 2,947km2.

The expansion adds land that adjoins the company's wholly owned Canyon PCA Area on the eastern flank of the basin.

"The award reinforces our conviction in the prospectivity of the eastern flank of the Taroom Trough and provides the JV with exposure to a large, prospective new acreage area in the southern Taroom Trough," stated Trevor Brown, CEO and Managing Director.

The acreage will be managed under a joint venture comprising Omega at 45%, Tri-Star E&P Ltd at 30%, and Beach Energy (ASX:BPT) at 25%.

Following the announcement, the Omega Oil & Gas share price was up at $0.82.

The company is currently executing an appraisal campaign that includes drilling four vertical wells and up to two horizontal wells.

Operations are actively progressing at the Canyon-4 vertical well site towards the primary Canyon Sandstone interval target.