Omega Oil & Gas Signs Letter of Intent for Provision of Drill Rig for Appraisal Program at Queensland Project

MT Newswires Live

2025/11/12

Omega Oil & Gas (ASX:OMA) signed a binding letter of intent with Helmerich & Payne (Australia) Drilling for the provision of the Rig 648 for the firm's Taroom Trough appraisal program, as part of the Permian unconventional gas and liquids play in the Canyon project within Queensland's Taroom Trough, according to a Wednesday Australian bourse filing.

An exclusivity period was agreed upon by both parties to finalize the contract terms. The rig contract will comprise three firm wells and four optional wells.

The multi-well appraisal program is scheduled to begin in May 2026.

Its shares fell over 2% in recent trading on Wednesday.

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