Omega Oil & Gas Limited (ASX: OMA), an Australian exploration company focused on unlocking oil and gas resources in Queensland’s Taroom Trough, has announced significant operational updates for its Canyon North-1 well. The well, part of the ATP 2081 Joint Venture (Omega 45% and Operator, Tri-Star 30%, Beach Energy 25%), has reached a total depth of 4,700 metres measured depth (MD) in basement, making it the deepest well ever drilled in Queensland.
During drilling operations, extremely high gas shows were consistently observed in the Muggleton Formation, with gas influx into the wellbore safely separated from drilling fluid at the surface and flared in a controlled manner. The Joint Venture elected to deepen the well beyond its initial planned depth of approximately 4,000m MD to fully penetrate the Muggleton Formation, based on encouraging results recorded from this interval at the Canyon-4 well. Additionally, positive gas shows were encountered while drilling through the Lower Kianga Formation and Canyon Sandstone intervals, and the reservoir was confirmed as highly over-pressured.
Trevor Brown, CEO and Managing Director, stated that Canyon North-1 has delivered the highest gas shows recorded to date, with gas influx from unstimulated rock strengthening their conviction in a large, regionally extensive petroleum system within the Taroom Trough. Following these encouraging results, Omega’s immediate focus is on executing a comprehensive wireline logging program. The company also anticipates drilling Canyon North-2 in the fourth quarter of 2026 and undertaking a horizontal appraisal and flow testing program in the first half of 2027.
