HopgoodGanim Lawyers is pleased to have advised Omega TN Pty Ltd, an entity within the Omega Oil & Gas group, on the successful negotiation and execution of a joint bid agreement and the subsequent application for tenure in relation to exploration acreage in Queensland’s Taroom Trough.
The Omega-led consortium, comprising Omega TN Pty Ltd, Tri-Star Stonecroft Pty Ltd and Drillsearch Energy Pty Ltd, has been appointed preferred tenderer by the Queensland Government for gas and petroleum exploration in the Taroom Trough near Miles in South-West Queensland.
The appointment relates to a 750 square kilometre exploration tenement, comprising part of broader exploration areas opened for tender by the Government as part of its plan to secure future domestic energy supply and attract major new investment into Queensland's resources sector.
The HopgoodGanim team was led by Partner James Plumb and Associate Sophie Maitland, who advised Omega on the structuring and negotiation of the joint bid arrangements. Our team supported the consortium through the tenure application process, working closely to align commercial, regulatory and risk considerations.
The Taroom Trough is emerging as one of Australia’s most closely watched exploration regions and is widely regarded as having the potential to become the nation’s first major new oil province in a generation, with significant implications for domestic energy supply, regional employment and long-term industry development.
James Plumb said:
“We congratulate Omega and its joint venture partners on their appointment as preferred tenderers. This project represents a significant milestone for Queensland’s resources sector and reflects the growing confidence in the Taroom Trough’s potential. We are proud to have supported Omega on this transaction.”