Omega Oil & Gas Ltd. has confirmed a major extension of its oil and gas resource in Queensland’s eastern Taroom Trough, following results from the first well in its 2026-2027 appraisal program.
The Canyon-3 well reached a total depth of 3,792.6 metres, with comprehensive wireline and surface logging subsequently revealing a 526-metre-thick oil and gas-bearing Permian interval containing 170 metres of aggregate net pay.
Results from the primary target, the Canyon Sandstone, exceeded pre-drill expectations. Log analysis indicated 18 metres of net oil-bearing sands with an average porosity of 11.5 per cent within a 42-metre gross reservoir interval.
Compared to the earlier Canyon-1 discovery well, the reservoir section in Canyon-3 proved 14 per cent thicker with 55 per cent superior average porosity.
Additionally, the well encountered a thick, gas- and condensate-bearing sequence in the Lower Kianga formation, opening a sixth stacked reservoir target across Omega’s 1,800-square-kilometre acreage footprint.
Omega CEO Trevor Brown said the findings strongly reinforce the company’s geological model and confirm continuous hydrocarbon distribution updip toward the Cabawin Oil Field.
“The first well in our program was drilled safely and efficiently, with the high-quality results exceeding our pre-drill expectations,” Brown said.
“We saw thicker and better reservoirs in Canyon-3 compared to previous wells and proved continuity of the geology in target reservoirs.
“A growing body of evidence is demonstrating that our operated acreage area in the eastern Taroom Trough hosts internationally significant resources of oil and gas.”
The Canyon-3 results build on momentum from the Canyon-1H horizontal well, which previously achieved normalised flow rates of 987 barrels of oil per day and 1.45 million standard cubic feet of gas per day.
Canyon-3 wireline, petrophysical and geological data will now be integrated with the company’s existing well and seismic datasets to continue reducing subsurface uncertainty and establishing the scale and quality of the reservoir system.
Omega remains fully funded for its multi-well campaign, which comprises four vertical wells followed by horizontal drilling and flow testing.
The H&P Rig 648 is currently mobilising to the Canyon-4 location, with spudding expected within a week.
