Omega Oil & Gas Limited (AU:OMA) has released an update.
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Omega Oil & Gas Limited has successfully drilled the Canyon-1H well, revealing promising gas and condensate signs, and is preparing for hydraulic fracture stimulation in Q1 2025. The company completed a $6.5 million capital raise and registered for an estimated $6.8 million R&D tax incentive, while securing a 15-year tenure for its project areas. With cash reserves of $14.4 million, Omega is poised for a significant growth phase under new CEO Trevor Brown.
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