With this in mind, here are some ASX-listed gas plays with operations in Australia that have intriguing news pending. Omega Oil & Gas (ASX:OMA) will flow test its Canyon-1H horizontal well in Queensland’s Taroom Trough during the current quarter.
The well had recorded strong gas shows and indications of condensate throughout the 822m long horizontal section of the targeted Permian Canyon sandstone, which provides greater surface area for increased flow rates.
While commercial flow rates are hardly a certainty, the signs are promising, particularly since Shell has enjoyed significant successes with its wells in the same region and has reportedly committed to a long-term development program.
OMA Price at posting:
34.0¢ Sentiment: Buy Disclosure: Not Held
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