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Omega Oil and Gas Limited (ASX: OMA) announced that at the time of writing it has secured AU$46 million through a heavily oversubscribed institutional placement at AU$0.41 per share. The raise, strongly supported by new and existing investors, including cornerstone backing from the Flannery family and Tri-Star Group, exceeded the company’s initial AU$40 million target.
Proceeds will fund drilling at the Canyon Project in Queensland’s Taroom Trough, including three vertical wells and optional horizontals from 2026, to delineate reserves and identify “sweet spots.” Funds will also support business development and potential acreage acquisitions under an Area of Mutual Interest agreement with Tri-Star and Beach Energy.
Post-raise, Omega expects to hold around AU$70 million in capital through cash, placement proceeds, and R&D receipts by June 2026, strengthening its balance sheet to pursue growth opportunities across oil and gas resources.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
