HIGHLIGHTS

Trevor Brown, CEO and Managing Director, commented:

'The mobilisation of H&P’s Rig 648 marks the start of Omega's largest, and most impactful drilling program to date, and is an important milestone in evidencing the vast potential of the eastern Taroom Trough. Over the coming months, by drilling one well each month, we will systematically evaluate five stacked, Permian, tight-sand reservoir intervals over our large acreage area as we continue to de-risk this attractive, internationally significant, large-scale petroleum system.'

'Our confidence in the eastern flank is high and is supported by well results and a geological model built on many years of technical work and regional studies. We believe the eastern flank of the Taroom Trough offers a compelling combination of scale, reservoir quality, structural setting and liquids potential.'

'With a fully funded program and a clear strategy, we are excited to commence our program and look forward to delivering a steady flow of results as the program progresses.'

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Source: Omega Oil & Gas