Australia's Omega Oil & Gas climbs on thicker hydrocarbon find

Omega Oil & Gas

23/05/2023 02:40

** Shares of Omega Oil & Gas Ltd  OMA.AX  climb as much as
21.7% to A$0.28, their highest since April 27
    ** Co says results from its second well (Canyon 1) has shown
greater thickness of hydrocarbon-rich zones in the Kianga and
upper back creek formations
    ** Says plans underway for Omega’s hydraulic stimulation
campaign later this year
    ** Also announces appointment of Trent Lockhart as chief
financial officer
    ** Stock posts its biggest intraday pct gain since April 27
    ** Total of 5 mln shares change hands, vs 30-day avg volume
of 3.1 mln shares
    ** Stock up 31.4% this year, as of last close

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))