How Omega Oil and Gas stands to fill Australia’s looming gas demand gap

Thu 16 Mar 23, 2:36pm (AEST)


  • Omega Oil and Gas is an oil and gas junior listed on the ASX in October 2021
  • It is in the process of drilling two wells in the Permian age Surat Basin in South East Queensland.
  • The prospective volume of Omega’s wells is 3TCF of Natural Gas and 233m barrels of associated liquids.

0:20 - Can you describe Omega Oil and Gas to the audience in three sentences or less?

0:41 - How does Omega Oil and Gas stand out from its competitors at home and overseas?

1:29 - Why have Tri-Star and the Flannery family taken an interest in Omega?

4:05 - The looming gas shortage on the east coast of Australia and the factors behind this

5:43 - Is the shortfall priced into energy stocks?

7:10 - Something about natural gas that everyday traders may not know

7:46 - The geological traits that make Omega’s acreage in South East Queensland desirable for energy exploration and development

9:25 - The significance of Omega’s Permian Gas Play in the Surat Basin

10:40 - On the cards for Omega Oil and Gas in the second quarter of 2023 calendar year

11:35 - The risks that Omega is managing

12:23 - Where do you see Omega in three years’ time?

With looming gas shortages on the horizon for the east coast of Australia, the work that Omega Oil and Gas (ASX: OMA) is doing is all the more crucial. The oil and gas junior holds two leases in the Permian-age Surat Basin with deep gas drilling in progress.

Omega only listed on the ASX last October. The fact that two major investors - the Flannery family and Tri-Star - are involved, should be an indicator to investors of the size of the opportunity facing Omega.

Lauren Bennett, CEO for Omega, says the prospective resource of the company’s leases includes 3 trillion cubic feet (TCF) of natural gas and 233 million barrels (mmbl) of associated liquids. To put that in perspective, 3TCF could power more than 100 million homes a year.

Bennett joined Market Index to discuss Omega’s drilling activity and potential, Australia’s gas shortages and the big plans for the next three years.


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Created By

Sara Allen

Thu 16 Mar 23, 2:36pm (AEST)

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