OMEGA OIL & GAS LIMITED (OMA)
Share Price Analysis and Chart

25/08/2026

1

Speculative Buy

$1.40

90.48%

Bell Potter maintains its Speculative Buy recommendation for Omega Oil & Gas with its target price unchanged at $1.40 following positive drilling results from the Canyon-3 well within the 2026/27 program.

The well reached a total depth of 3,793m and encountered a 526m thick hydrocarbon-bearing Permian interval with 170m of aggregate net pay, exceeding pre-drill expectations.

The broker highlights that the discovery of the Lower Kianga as a sixth stacked reservoir target and the expanded lateral continuity reinforce the multi-zone potential of the Taroom Trough acreage.

The analyst notes that the company remains fully funded for its ongoing appraisal program with $102m in cash and no debt as of 30 June 2026.

FORECAST
Bell Potter forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -0.50 cents.
Bell Potter forecasts a full year FY28 dividend of 0.00 cents and EPS of minus -1.00 cents.

30/08/2026

1

Speculative Buy

$1.25

70.07%

Canaccord Genuity maintains a Speculative Buy rating for Omega Oil & Gas with a $1.25 target price following successful results from the Canyon-3 vertical well in the 2026/27 drilling program.

The well intersected a 526m gross oil and gas-bearing Permian interval featuring 170m of aggregate net pay across six regionally correlatable reservoirs.

Performance in the primary Canyon Sandstone target exceeded prior benchmarks, revealing 18m of net oil-bearing sand at an 11.5% average porosity, representing a 14% thickness expansion and 55% porosity improvement compared to Canyon-1.

The analyst views the discovery of an additional high-quality gas and condensate-bearing interval within the Lower Kianga as providing further optionality and confirming the international significance of the eastern Taroom Trough province.

The company remains fully funded for the remainder of its appraisal campaign, commentary observes, with the rig scheduled to commence drilling at Canyon-4 shortly.

FORECAST
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -1.20 cents.
Canaccord Genuity forecasts a full year FY28 dividend of 0.00 cents and EPS of minus -1.40 cents.