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What will help Australia transition from coal?

Article originally published by Forbes.

Omega Oil & Gas took the plunge to IPO this year and is looking to find energy sources that will help move the country and the world towards lower carbon emissions.

Omega Oil & Gas (ASX:OMA) listed on the ASX on October 25, 2022, and hit a high on the day of 19c, giving it a market cap of around $27.8 million on debut. It’s currently trading around 16c a share, with a market cap of just more than $22 million.

The billionaire Flannery family cornerstoned the IPO committing $4.2 million of the $15.1 million that Omega raised. Quentin Flannery, 35, joined the Omega Board, having previously been a Non-Executive Director/Board Member of several other early-stage start-ups and listed entities. Lauren Bennett is the CEO.

“The country needs gas, the world needs gas,” says Quentin, in an interview with Forbes Australia. “It is the transition fuel that needs to be there currently, that is just the reality. Nuclear takes years to become operational and coal is getting harder.”

“If the world does want to move towards a lower carbons emissions footprint, gas is that fuel to get us to the next step,” he says.