Omega Oil and Gas Confirms Extensive Petroleum System at Canyon-2, Commences DFIT Program

Omega Oil and Gas Limited (ASX: OMA) has announced strong results from its Canyon-2 well within the 100%-owned Canyon Project in Queensland’s Bowen Basin. Recently completed case hole logging has confirmed the presence of an extensive petroleum system across both oil and gas intervals. SLB’s pulsed neutron logging has revealed a thicker, higher-quality Canyon Sandstone pay zone in Canyon-2 compared to Canyon-1, along with previously unidentified stacked reservoir zones. These findings significantly enhance the commercial potential of the project.

Omega has commenced the Canyon-2 DFIT (Diagnostic Fracture Injection Test) program to evaluate reservoir performance and pressure. Preparation is also underway for seismic acquisition while the company assesses rig availability for further drilling. With a strong cash position and ongoing discussions with strategic partners, Omega remains focused on progressing towards reserve conversion and accelerating appraisal of the Canyon Project, aiming to bring new energy supply to the East Coast gas market.

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