The oil and gas junior that stands to fill Australia’s looming gas demand gap

Lauren Bennett, CEO for Omega Oil and Gas, discusses Omega's drilling activity and potential, gas shortages and the next three years.
Sara Allen

Livewire Markets

With looming gas shortages on the horizon for the east coast of Australia, the work that Omega Oil and Gas (ASX: OMA) is doing is all the more crucial. The oil and gas junior holds two leases in the Permian-age Surat Basin with deep gas drilling in progress.

Omega only listed on the ASX last October. The fact that two major investors - the Flannery family and Tri-Star - are involved, should be an indicator to investors of the size of the opportunity facing Omega.

Lauren Bennett, CEO for Omega, says the prospective resource of the company’s leases includes 3 trillion cubic feet (TCF) of natural gas and 233 million barrels (mmbl) of associated liquids. To put that in perspective, 3TCF could power more than 100 million homes a year.

Bennett recently joined Market Index to discuss Omega’s drilling activity and potential, Australia’s gas shortages and the big plans for the next three years. 


  • 0:20 - Can you describe Omega Oil and Gas to the audience in three sentences or less?
  • 0:41 - How does Omega Oil and Gas stand out from its competitors at home and overseas?
  • 1:29 - Why have Tri-Star and the Flannery family taken an interest in Omega?
  • 4:05 - The looming gas shortage on the east coast of Australia and the factors behind this
  • 5:43 - Is the shortfall priced into energy stocks?
  • 7:10 - Something about natural gas that everyday traders may not know
  • 7:46 - The geological traits that make Omega’s acreage in South East Queensland desirable for energy exploration and development
  • 9:25 - The significance of Omega’s Permian Gas Play in the Surat Basin
  • 10:40 - On the cards for Omega Oil and Gas in the second quarter of 2023 calendar year
  • 11:35 - The risks that Omega is managing
  • 12:23 - Where do you see Omega in three years’ time?

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Sara Allen
Content Editor
Livewire Markets

Sara is a Content Editor at Livewire Markets. She is a passionate writer and reader with more than a decade of experience specific to finance and investments. Sara's background has included working at ETF Securities, BT Financial Group and...

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