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

13/10/2026

1

Speculative Buy

$1.40

102.90%

Omega Oil & Gas has results from the Canyon-4 well on its acreage which intersected a 589m gross oil and gas-bearing sequence with 197m of aggregate net pay.

Multiple reservoir levels were intersected through the full Permian sequence to a total depth of 4,017m.

Bell Potter observes it improves the Canyon-3 results released in late August 2026 in terms of net pay and reservoir quality.

The company is de-risking a new unconventional oil and gas play near Australia's east coast energy markets.

Speculative Buy rating maintained. Target is $1.40.

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.

19/10/2026

1

Speculative Buy

$1.40

102.90%

Canaccord Genuity maintains a Speculative Buy rating for Omega Oil & Gas with its target price increased to $1.40 from $1.25 following the successful completion of the vertical drilling program across the PCA 342 and PCA 343 licences.

The Canyon-4 updip well intersected 197m of aggregate net pay, recording the highest quality reservoir properties observed within the primary overpressured Canyon Sandstone to date.

Canaccord Genuity highlights the Lower Kianga formation as a potential primary target after encountering 50m of net oil pay accompanied by strong hydrocarbon indications.

The analyst anticipates a material expansion of the company's resource base during the March 2027 quarter, supported by forthcoming step-out drilling operations at Canyon North-1 and Canyon North-2 within ATP 2081.

Revisions to the sum-of-the-parts discounted cash flow valuation reflect growing confidence in reservoir continuity and the broader basin-scale development opportunity.

FORECAST
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of minus -2.00 cents.
Canaccord Genuity forecasts a full year FY28 dividend of 0.00 cents and EPS of minus -2.90 cents.