Canyon Project

Omega Oil and Gas is advancing the high-potential Canyon Project within Queensland’s Taroom Trough, part of the under-explored deep south Bowen Basin. This region is emerging as a new energy frontier with proven overpressure, liquids-rich gas and oil potential.

An Untapped Region

Omega’s acreage is ideally positioned near established infrastructure and market access points. The Company’s early-mover acquisition strategy has secured 100% ownership of large-scale assets with significant upside.

Canyon-1 and Canyon-2 have delivered strong results and are advancing toward commercialisation. We have proven the effectiveness of horizontal drilling and fracture stimulation with successful testing of Canyon-1H. These efforts support Omega’s broader goal, to de-risk and unlock significant oil and gas volumes for Australia’s future energy needs.

Omega Oil and Gas team

The Canyon Project

Wells

Canyon-1 (Vertical Well)
Canyon-2 (Vertical Well)
Canyon-1H (Horizontal Well)

Target

Deep Permian Sequence

Resource Estimate

1.73 TCF (2C), 4.50 TCF (3C) gross contingent gas

Overview

The Canyon Project is Omega Oil and Gas’ flagship project, located in the Taroom Trough — an emerging frontier for Australian oil and gas.

With strong results and significant resource potential, The Canyon Project is paving the way for a new phase of energy development in the region.

The Canyon Project cross section.

Milestones and Progress
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Successful Drilling

Canyon-1H reached target depth with excellent well integrity

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Fracture Stimulation

Multi-stage hydraulic stimulation completed in March 2025

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Confirmed Overpressure

DFIT confirmed 0.79 psi/ft — strong reservoir pressure

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Flowback and Testing Underway

Strong oil and gas flows

Video preview - Omega Oil and Gas Canyon-1H Fracture Stimulation Test
Omega Oil and Gas Canyon-1H Fracture Stimulation Test

Canyon-1H Flow Test Results

Peak Oil Rate: 452 BOPD
Peak Gas Rate: 0.6 MMSCFD
Sustained 24hr Flow: 321 BOPD and 0.472 MMSCFD
Oil Quality: 49.5 API – a high quality light crude oil

These results confirm the presence of a large, high-quality, liquids-rich petroleum system in the Taroom Trough.

Read Full Results
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