Article originally published by AusBiz.

One of few oil and gas IPOs in recent times, Omega Oil & Gas (OMA) has listed on the ASX today. 

The debut follows an oversubscribed IPO that raised $15.1m, giving the company a market cap of $27.8m. 

The billionaire Flannery family cornerstoned the IPO with a $4.2m investment as they look to take advantage of the significant gas shortage playing out on Australia’s East Coast. 

Quentin Flannery, son of AFR Rich Lister Brian Flannery, will be joining the Omega board. 

IPO is well timed with Australia’s energy needs at an all-time high and existing upstream production struggling to meet demand.