Tri-Star Group’s Post

Breaking news: Omega Oil and Gas Limited has completed a $6.5 million institutional capital raise. Here is what Omega Oil and Gas Limited CEO and Managing Director, Trevor Brown said “Omega is delighted with the strong response to the capital raise. The raise was well supported by existing Australian and international shareholders, and we welcome several new, high-quality investors onto the register. The success of the raise reflects strong interest in Omega’s exciting, upcoming Canyon-1H project - a significant test of the large resource potential of the Taroom Trough. “The upcoming Canyon-1H project will see Omega drill a horizontal well section ahead of a planned multi-stage hydraulic stimulation and flowback trial to test for potentially commercial flow from the Canyon Sandstone. The Taroom Trough is emerging as a likely new source of urgently needed gas in Eastern Australia. “The funds raised will put Omega in a strong position to realise the value in the Canyon Gas Project by providing flexibility to expand and accelerate appraisal activities, undertake early development planning if the initial Canyon-1H program is successful, and to participate in business development opportunities as they arise.” Ilwella, Tri-Star Group, Prenzler Group https://lnkd.in/eSqB-6md