Omega Oil commences Canyon-4 drilling program
- Omega Oil & Gas has started drilling operations at the Canyon-4 appraisal well in Queensland's eastern Taroom Trough.
- The appraisal programme remains fully funded as drilling moves approximately 8km south following positive outcomes at the previous Canyon-3 location.
- Results from the Canyon-4 well are scheduled to be released towards the end of September.
Omega Oil & Gas (ASX:OMA) has commenced drilling at the Canyon-4 appraisal well to further evaluate the hydrocarbon potential across its 1,800-square-kilometre permit area.
The new well is located roughly 8km south of the recently drilled Canyon-3 site, where preliminary evaluation confirmed continuous sandstone reservoir intervals.
“Following the outstanding results achieved in our recently completed Canyon-3 well, we are pleased to have commenced drilling at Canyon-4, the second well in our play-defining Taroom Trough appraisal campaign,” said Omega Oil & Gas CEO and Managing Director Trevor Brown.
The company stated that data gathered from Canyon-4 is expected to support a resource expansion across an initial focus area exceeding 400km2 within PCA 342 and 343.
Omega plans to execute two additional vertical appraisal wells, Canyon North-1 and Canyon North-2, before advancing to horizontal flow testing with lateral lengths reaching up to 2,000m.
Following the announcement, the Omega Oil & Gas share price was unchanged at $0.74.
The multi-stage 2026/27 campaign aims to confirm the continuous nature of stacked Permian oil and gas reservoirs in the region.
The company retains contract options for additional drilling capacity depending on operational outcomes across the broader Canyon appraisal project over the next 12 months.
