Omega Oil & Gas (ASX:OMA) began drilling at the Canyon-3 well, the first well in its appraisal program, at the Canyon project in the Taroom Trough in Queensland, according to a Friday Australian bourse filing.
Canyon-3 is planned to be drilled to a total measured depth of around 3,900 meters.
Four vertical appraisal wells will be drilled initially, followed by one or two horizontal wells extending up to 2,000 meters, per the filing.
Its shares advanced 3% in recent trading on Friday.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.