Author: openjargon

The S&P/ASX 200 Index (ASX: XJO) is on form again on Tuesday and pushing higher. In afternoon trade, the benchmark index is up 0.25% to 8,891.8 points.

Four ASX shares that are rising more than most today are listed below. Here’s why they are climbing:

Elevra Lithium Ltd (ASX: ELV)

The Elevra Lithium share price is up 6% to $7.60. This morning, this lithium miner announced a non-binding agreement to supply Mangrove Lithium with spodumene concentrate produced at North American Lithium. A binding definitive agreement rests on a final investment decision by Mangrove Lithium for construction of a lithium conversion facility and the agreement on the final terms of the deal. If all goes ahead, Elevra would supply 140,000 tonnes per year of spodumene concentrate to Mangrove Lithium at market related prices, subject to a floor and ceiling price.

Pro Medicus Ltd (ASX: PME)

The Pro Medicus share price is up almost 2% to $163.90. This appears to have been driven by a broker note out of Morgans this morning. According to the note, the broker has upgraded the health imaging technology company’s shares to a buy rating with a $290.00 price target. It said: “Pro Medicus provides that infrastructure, so, in many ways the acceleration toward AI potentially makes its business case more compelling as a product versus peers – at least in the medium term.”

Sims Ltd (ASX: SGM)

The Sims share price is up 3% to $21.26. After the market close on Monday, this scrap metal company revealed that it has entered into an agreement to purchase assets of TCT Trading for US$66.5 million. It advised that this is seen as a key component to consolidating its Houston operations and significantly reducing its operating cost base. The company has also entered into an agreement to sell its nearby Mayo Shell property in Houston.

Treasury Wine Estates Ltd (ASX: TWE)

The Treasury Wine share price is up 6% to $5.48. This follows news that the wine giant has reached a settlement with Republic National Distributing Company (RNDC) in California. This follows RNDC’s decision to exit the California market last year. Treasury Wine will repurchase its Treasury Americas portfolio inventory held by RNDC in California at original sale value. In addition, the company advised that it now expects first-half EBITS of approximately $236 million. This compares favourably to its previous guidance range of $225 million to $235 million.

The post Why Elevra Lithium, Pro Medicus, Sims, and Treasury Wine shares are roaring higher appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Pro Medicus and Treasury Wine Estates. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Treasury Wine Estates. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has positions in and has recommended Treasury Wine Estates. The Motley Fool Australia has recommended Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Amplitude Energy Ltd (ASX: AEL) shares are having a day to forget on Tuesday.

In morning trade, the ASX 300 stock is down 27% to $2.35.

Why is this ASX 300 stock sinking today?

Investors have been selling this energy company’s shares today following the release of exploration results.

According to the release, Amplitude Energy has provided an update on drilling operations at the Elanora-1 exploration well in the Offshore Otway Basin, Victoria.

It notes that Elanora-1 is an exploration well located in permit VIC/L24 within Commonwealth waters, approximately 6km south-west from a tie-in point in the existing Casino, Henry, Netherby (CHN) pipeline.

The ASX 300 stock is the operator and a 50% interest holder in VIC/L24 with O.G. Energy holding the remaining 50% interest.

What were the results?

This morning, Amplitude Energy revealed that the Elanora-1 eight and a half-inch hole section penetrated the primary Waarre A reservoir target and reached the planned total depth (TD) of 1,857 metres TVDSS on 10 February. This was achieved safely and without material incidents.

TD was reached in 15 days from spud date, well ahead of budgeted schedule.

Unfortunately, preliminary drilling and logging data recorded no elevated gas readings in the primary target Waarre A reservoir (intersected at 1,766 metres TVDSS). As a result, the reservoir is interpreted to be water-bearing.

What now?

The ASX 300 stock revealed that Elanora-1 will now be plugged and a sidetrack into the Isabella prospect will be drilled as planned. This is expected to take approximately 14-18 further days. Isabella lies immediately adjacent to Elanora, also in the VIC/L24 permit.

It notes that in the event of success in the sidetrack, evaluation of the discovery through Logging While Drilling (LWD) will be conducted immediately to assess the gas composition and quality of the reservoir.

The sidetrack is planned to be cased and completed with a sub-sea tree upon success, incorporating a flow test, and then suspended ready for development as part of the East Coast Supply Project (ECSP).

The company’s managing director and CEO, Jane Norman, commented:

While the result at Elanora is disappointing we continue the ECSP campaign with the Isabella prospect, targeting a separate reservoir to that tested by Elanora. As previously communicated, on success Isabella is intended to be a producing field for the ECSP, while evaluation of Elanora was intended to inform our longer-term Otway Basin exploration and development plans. The result at Elanora, which was targeting Waarre A sands, does not impact our view of the probability of success of Waarre C sands targets such as Isabella, Juliet or Nestor.

The post Why is this ASX 300 stock crashing 27% today? appeared first on The Motley Fool Australia.

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• Up 34% in 12 months, here’s why Amplitude Energy shares can keep rising
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Myer. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Wisetech Global Ltd (ASX: WTC) is another local technology stock caught up in the recent sector shakeout, with investors apparently nervous about the impact of AI on future earnings across the board.

The company’s shares are currently trading at $49.28 and are well down on the $127.39 they were fetching around this time last year.

So are the shares, which are trading not far off their 12-month lows, a bargain?

AI a blessing, not a curse

The team at Macquarie seem to think so, this week issuing a research note to their clients with a bullish share price target of $94, arguing that the company has the “most defensible” position in the Australian technology sector, and that it stands to benefit from AI rather than suffer.

One of the key elements in the company’s favour, the Macquarie team says, is that Wisetech’s CargoWise offering is “an entrenched vertical operating system with proprietary data, reinforced by huge R&D scale”, not just a run-of-the-mill software as a service business.

The Macquarie team said, “We think WiseTech (WTC) has a defensible position for perceived future AI competition”, and said there was the potential for the company to grow through acquisition as it has done in the past.

The Macquarie team added:

Execution risks are commensurate with the size and deliverability of a massive market opportunity, which is fully priced. Conversely, AI upside is not priced, and we see scope for earnings per share beats in 1H26 despite lower visibility.

Jarden analysts released their own report into Wisetech in mid-January, and while they’re not so bullish on the stock, they still believe it can increase handily with a price target of $74.

The Jarden team, in a preview of the company’s half-year results, noted that Wisetech has a history of surprising the market, both positively and negatively, but is forecasting revenue growth of 70% to US$649 million for the half.

Things that could drive better-than-expected results included a faster rollout of the CargoWise product to existing customers and new contract wins.

Jarden said they believed Wisetech’s operating cost guidance could also be conservative.

Wisetech itself last reaffirmed its guidance at its annual general meeting in November, with revenue expected to be US$1.39 to US$1.44 billion, which would be a 79% to 85% increase over the previous year.   

Wisetech is scheduled to release its half-year results on 25 February.

The company was valued at $16.56 billion at the close of trade on Monday.

The post How undervalued are Wisetech shares? Two brokers have their say appeared first on The Motley Fool Australia.

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Motley Fool contributor Cameron England has positions in WiseTech Global. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group and WiseTech Global. The Motley Fool Australia has positions in and has recommended Macquarie Group and WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Amotiv Ltd (ASX: AOV) share price is little changed today at $8.44 after the company released its half-year results.

While the numbers show steady progress, the market response indicates investors expected a better result.

The Amotiv share price is now down around 6% so far this year, with today’s result largely in line with expectations.

Let’s dive right in.

A steady result, but no fireworks

For the six months ended 31 December 2025, Amotiv reported higher revenue and profit compared to the same period last year.

Group revenue came in at just over $520 million, supported by solid demand across several parts of the business and contributions from recent acquisitions. Operating profit also increased, while net profit attributable to shareholders rose to around $46 million.

On the surface, it looks like a healthy result. However, once one-off items and acquisition-related costs are stripped out, the underlying profit growth was modest.

Margins still under pressure

A key takeaway from the update was that margins remain under pressure.

Amotiv continues to face higher costs across its supply chain, while pricing increases have yet to fully flow through. Some overseas operations run at lower margins than the core Australian business, which diluted overall profitability during the half.

The company also booked a small provision linked to a customer in the recreational vehicle segment. While not material for the group, it is a reminder that some parts of the market are still struggling.

Management said it is working through pricing actions and cost controls, which should help improve margins in the second half.

Balance sheet and cash flow remain solid

A key positive from the result is Amotiv’s cash generation.

The company delivered strong operating cash flow during the half, with cash conversion improving to around 92%. That supports the balance sheet and gives management flexibility to invest in the business while continuing to return cash to shareholders.

Amotiv also declared a fully-franked interim dividend of 20 cents per share, up 8.1% on the prior corresponding period.

What does it mean for investors

Overall, Amotiv produced a steady result for the first half.

Revenue and profit moved in the right direction, and the business remains well-positioned in the automotive aftermarket space. However, margin pressure and softer trading conditions are still holding back stronger earnings growth.

At $8.44, the share price shows investors are waiting for clearer signs of improvement. That will depend on margins lifting in the second half.

The post Is this why Amotiv shares are stuck in neutral after today’s results? appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Macquarie Group Ltd (ASX: MQG) shares are marching higher today.

Shares in the S&P/ASX 200 Index (ASX: XJO) diversified financial stock closed yesterday trading for $212.91. As we head into the Tuesday lunch hour, shares are changing hands for $215.37 each, up 1.2%, having posted earlier morning gains of 4%.

For some context, the ASX 200 is up 0.3% at this same.

Today’s outperformance follows the release of a trading update.

Here’s what we know.

Macquarie shares lift on solid quarter

Macquarie shares are outperforming following the release of the company’s December quarter update for the financial year ending 31 March 2026 (Q3 FY 2026).

Digging into the company’s operating segments, Macquarie Asset Management (MAM) reported assets under management (AUM) of $736.1 billion at 31 December. That’s up 3% quarter on quarter. Public Investments AUM performed particularly well, up 5% from Q2, driven by inflows in fixed income funds and favourable market movements. Private Markets AUM increased 1%.

Macquarie’s Banking and Financial Services (BFS) segment had total deposits of $204.5 billion at 31 December, up 6% quarter on quarter. The BFS home loan portfolio increased by 7% to $172.2 billion. The business banking loan portfolio increased 1% to $17.5 billion, while funds on platform slipped 1% from Q2 to $164.6 billion.

And Macquarie shares could be getting an added boost with the company’s Commodities and Global Markets (CGM) delivering “improved contributions” across both Commodities and Asset Finance compared to Q2. The Financial Markets contribution was broadly in line with the prior quarter.

In other core financial metrics, asset realisations and higher net income from the private credit portfolio saw an uptick in Macquarie Capital’s investment-related income over Q3.

Macquarie also highlighted that its financial position “comfortably exceeds” APRA’s Basel III regulatory requirements.

Macquarie reported a capital surplus of $7.5 billion at 31 December, which was down from $7.6 billion at 30 September.

What’s next for the ASX 200 financial stock?

Looking at what could impact Macquarie shares in the months ahead, the company reported that it continues to “maintain a cautious stance”. The company said its conservative approach to capital, funding, and liquidity positions it well to respond to the current environment.

Macquarie CEO Shemara Wikramanayake noted:

Macquarie remains well-positioned to deliver superior performance in the medium term with established, diverse income streams; deep expertise across diverse sectors in major markets with structural growth tailwinds; patient adjacent growth across new products and new markets; ongoing investment in our operating platform; a strong and conservative balance sheet; and a proven risk management framework and culture.

The post Macquarie shares taking off today as assets under management top $736 billion appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

While the silver price has taken a bit of a beating recently, it’s still up by well over 100% over 12 months, posing the question: where to invest to take advantage of the still-robust silver price?

There aren’t many silver producers on the ASX, but one soon-to-be producer is worth a look and could deliver strong returns, according to the team at Shaw & Partners.

Transition to producer status

They have run the ruler over Boab Metals Ltd (ASX: BML), which they believe has been a bit overlooked by the market since making a final investment decision (FID) over its Sorby Hills silver and lead project in Western Australia in mid-December.

The company said at the time it had $110 million in equity funding and a $236 million debt facility on hand to fund the construction of the project, and it was aiming to award the mining contract in the second quarter of this year.

The company said at the time:

Boab will provide updates early in the new year on a series of exciting activities across construction and project optimisation. With strong news flow planned throughout 2026, shareholders can expect a clear line of sight on progress as Boab advances its transition to a base and precious metals producer, offering multiple potential value catalysts in the months ahead. First concentrate production is scheduled for H2 2027.

Shaw has run the numbers on Boab and believes it is undervalued at the current share price.

As the Shaw team said in a note to clients this week:

On our modelling, every US$10/oz on the silver price is worth 40 cents per share to the Boab share price and at today’s spot silver price of US$80/oz, Boab is worth $1.53 per share. Despite the rally in silver, the Boab share price is only up from 41 cents to 53 cents since FID as the market digests the recent capital raises. This is creating an excellent opportunity for investors looking for silver exposure with heightened liquidity and an under-valued share price.

The Sorby Hills mine is expected to produce 2.2 million ounces of silver per year, and the Shaw team has estimated it will generate about $295 million in cash flow per year.

Shaw’s share price target for Boab shares is $1.70, up from $1.08 previously.

Boab shares were changing hands for just 54.5 cents on Tuesday morning. The company was valued at $302.3 million at the close of trade on Monday.

The post This silver stock could triple in 12 months one broker says appeared first on The Motley Fool Australia.

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Motley Fool contributor Cameron England has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Electro Optic Systems Holdings Ltd (ASX: EOS) shares have returned from a trading halt and are sharply lower in early trade on Tuesday.

In morning trade, the ASX defence stock was down as much as 16% to $5.05 before staging a recovery of sorts.

Why are EOS shares crashing?

Investors have been selling the defence technology company’s shares this morning after it issued a lengthy response to allegations made by US-based short seller Grizzly Research.

Last week, Grizzly Research published a report alleging various issues at EOS. However, Grizzly has disclosed that it holds a short position in EOS shares, meaning it stands to benefit financially if the share price falls.

In response, EOS requested a trading halt and has now released a detailed statement rejecting what it describes as the report’s “misleading, manipulatory and pejorative” conclusions. The company also revealed it has instructed legal advisers in Australia and Germany to consider potential legal action.

Even so, the mere presence of a high-profile short seller report is often enough to rattle markets, particularly after a strong run in a company’s share price.

The EOS response

The company’s response was long, but the main points can be boiled down into a few key themes.

Firstly, EOS strongly disputes the suggestion that recent share price gains were artificial or unsupported. It points to a surge in global defence spending, increased demand for counter-drone technology, and a sharp rise in its unconditional order book, which grew from $136 million at the end of 2024 to $459 million at the end of 2025. It said:

EOS is strongly of the view that the increased intake of unconditional orders over the course of 2025 is one of the key drivers of the share price appreciation recently observed.

South Korean order

Second, EOS addressed concerns around a conditional Korean high-energy laser contract worth US$80 million. The company stressed that the contract was clearly disclosed as conditional, it was not included in the $459 million secured order book, and EOS has not incurred significant costs while conditions remain unmet.

EOS said it continues to work with its Korean partner, Goldrone, but reiterated that the contract may or may not ultimately become unconditional. It is possible that some investors were treating this contract win as a certainty, but these comments have created significant uncertainty with the contract which could be weighing on EOS shares today.

MARSS acquisition

The company also defended its acquisition of MARSS, which is a counter-drone software business.

EOS rejected claims that MARSS had minimal revenue, saying Grizzly’s analysis ignored revenue generated outside the UK. According to EOS, MARSS generated approximately 243 million euros of revenue between 2020 and 2025 across multiple jurisdictions.

Finally, EOS pushed back on claims relating to its balance sheet. It said the sale of its EM Solutions business was part of a strategic refocus, not a forced move to pay down debt, and highlighted that it currently holds over $100 million in cash with no drawn debt.

Despite today’s and recent weakness, EOS shares are up approximately 300% since this time last year.

The post EOS shares crash 16% on scathing short seller report appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Electro Optic Systems. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Shares in Pro Medicus Ltd (ASX: PME) have more than halved over the past year amid the broader technology sell-off.

The company hasn’t had any news of note to release since December 1, when it announced a $25 million, seven-year contract in the US, so it’s not like there is any bad company-specific news driving the share price lower.

Caught in the tech crash

The analysts at Morgans have had a look at the company and believe that it “has been sold off heavily as investors increasingly worry that AI could structurally erode the economics an commoditise premium imaging SaaS (software as a service) platforms”

They added, “For Pro Medicus, that feels misunderstood”.

That said, they believe AI has a role to play in radiology, the field in which Pro Medicus operates.

As they said in a note to clients this week:

Global imaging demand and in particular CT and MRI utilisation has grown faster than radiologist supply for more than a decade. The size and complexity of these modalities create workflow bottlenecks, long reporting queues, radiologist burnout, and pressure for cost and efficiency gains. AI’s core value in healthcare is efficiency, speeding up workflows through automation, consistency, and smarter prioritisation. It already tackles tasks such as image‑quality checks, auto‑labelling, and even pre‑reading clear negatives or obvious cases. These sit around the diagnostic moment but don’t replace the need for radiology itself, nor the enterprise workflows, data routing, and high‑performance visualisation that underpin it.

But Morgans added that while AI will no doubt become a powerful tool in healthcare, it still needs infrastructure to operate, which is where Pro Medicus comes in, with its proprietary product suite that enables the compression and decompression of large radiology files.

As the Morgans team said:

Pro Medicus provides that infrastructure, so, in many ways the acceleration toward AI potentially makes its business case more compelling as a product versus peers – at least in the medium term.

Company has a wide moat

Morgans says while there are already start-ups pitching end to end imaging solutions, they’re “tiny, unproven and not enterprise ready”.

They also note that the buyers in the field tend to be risk-averse with long testing and procurement cycles.

The Morgans team said:

So, is there risk ahead? There is. There always has been. But we don’t see it as existential, or likely a material threat in the next 5 to 10 years. Even so, Pro Medicus should have renewed and signed even more large contracts, locking in the next 7-10 years of guaranteed minimum revenues. Growth is far from done.

Morgans has a 12-month price target of $290 on Pro Medicus shares, compared with $161.17 currently, which would represent a gain of 79.9% if achieved.

Pro Medicus will release its first-half results on Thursday, February 12.

The post Let’s see why this broker thinks Pro Medicus shares could fly appeared first on The Motley Fool Australia.

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Motley Fool contributor Cameron England has positions in Pro Medicus. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Pro Medicus. The Motley Fool Australia has recommended Pro Medicus. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Shares in Worley Ltd (ASX: WOR) are edging higher on Tuesday after the company announced a new contract tied to a major energy project in the Middle East.

At the time of writing, the Worley share price is up 1.90% to $13.39. That extends a solid start to the year, with the stock now up around 7% in 2026 as investors respond to fresh contract momentum.

By comparison, the S&P/ASX 200 Index (ASX: XJO) is up a modest 2% this year.

Let’s take a closer look at what management updated the market with.

What Worley announced today

In an ASX release, Worley said it has been selected by Samsung C&T Corporation to deliver detailed engineering services. The work relates to the QatarEnergy LNG Carbon Dioxide Sequestration Project in Qatar.

The project is designed to permanently store around 4.3 million metric tonnes of CO2 per year. Once operational, it will form a key part of Qatar’s broader push to reduce greenhouse gas emissions linked to LNG production.

Under the agreement, Worley will provide detailed engineering services, building on its earlier front end engineering design work for the project. Execution will be led out of Worley’s Qatar office, supported by its Global Integrated Delivery centre in India and additional teams in Australia.

Management described the award as a significant milestone and highlighted its growing credentials in carbon capture and storage.

Why Worley shares moved today

While no contract value was disclosed, the project is still an important win.

Carbon capture and sequestration is one of the fastest-growing areas of the energy transition. It is particularly important for LNG exporting nations looking to decarbonise existing assets without replacing them.

Securing follow-on work after front end engineering is also vital. It increases the likelihood of additional scopes as the project moves into later stages.

How this fits into Worley’s long-term strategy

Worley continues to operate across both traditional energy and decarbonisation markets.

The group remains heavily exposed to LNG, oil and gas, and chemicals, while steadily increasing its footprint in carbon capture, hydrogen, and sustainability-related projects. This mix has supported earnings through volatile capital spending cycles across the resources sector.

What investors should watch next

Focus now shifts to the pace of revenue and cash flow conversion from new and existing projects.

Backlog trends, margin performance, and capital management will remain the key variables to monitor through the remainder of the year. Any updates around project execution or further contract awards will help shape expectations heading into upcoming results.

The post Worley shares climb after Middle East contract win appeared first on The Motley Fool Australia.

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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

ASX energy share Omega Oil & Gas Ltd (ASX: OMA) is off to the races today following news of a new joint venture with S&P/ASX 200 Index (ASX: XJO) oil and gas giant Beach Energy Ltd (ASX: BPT) and privately held Tri-Star E&P Ltd.

Omega shares up 14% in late morning trade on Tuesday, changing hands for 49 cents apiece.

Beach Energy shares are up 2.6% at this same time, trading for $1.175 each.

For some context, the ASX 200 is up 0.5% at the time of writing.

Here’s what’s piquing investor interest in the ASX energy shares today.

ASX energy share leaps on JV success

Omega and Beach Energy shares are both outperforming today after the companies announced the joint venture award of a 750 square kilometre land area in the Taroom Trough from the Queensland government.

The new land area, designated PLR2025-1-9, is situated immediately north of Omega’s existing Potentially Commercial Areas, offering a significant potential boost for the ASX energy share.

The new joint venture has Omega as the operator with a 45% interest, while Tri-Star has a 30% holding, and Beach Energy has a 25% interest.

The Queensland land award is part of the government’s efforts to secure longer-term gas supplies for the Aussie market, ensuring energy security and reducing gas prices. All of the gas produced in the awarded land will be sold into the domestic market.

What is management saying?

Commenting on JV land award sending the ASX energy share soaring today, Omega CEO Trevor Brown said, “Omega is an agile, well-funded, highly capable, Queensland-based explorer focused entirely on unlocking the resource potential of the Taroom Trough.”

Brown added:

Early indications are that the Taroom Trough may be host to internationally significant volumes of oil and gas and it shares many geological characteristics with the most prolific, unconventional producing basins in the USA.

He concluded, “We are pleased to be working alongside high-quality partners, Tri-Star and Beach Energy to rapidly determine the resource potential of our attractive new award area.”

As for today’s uptick in Beach Energy shares, Beach CEO Brett Woods said:

Beach Energy is excited to partner with Omega and Tri-Star in the Taroom Trough, an area we believe has the potential to become a meaningful new source of domestic oil and gas supply.

And Tri-Star CEO Australia Andrew Hackwood noted:

This joint venture is well positioned to move quickly and accelerate exploration and appraisal… Tri-Star sees the Taroom Trough as a potential next major source of domestic oil and gas, and we commend the Queensland government for its leadership in supporting increased East Coast gas supply.

The post Guess which ASX energy share is rocketing 14% today on a JV deal with Beach Energy appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.