Australian Oil Company (ASX:AOK) advances Surat Basin reactivation across oil and gas assets
Australian Oil Company has provided an operational update across its Surat Basin portfolio, with Emu Apple-1 successfully acidized and progressively brought back online, restoring production to pre intervention rates.
The update also outlines development and exploration activities across the Riverslea and Major Gas Field assets.
Highlights
Emu Apple-1 has been successfully acidized and progressively brought back online, with production restored to pre intervention rates.
Additional Riverslea-3 oil samples have been collected and sent to the laboratory for assaying to incorporate into a crude sales agreement.
Field visits will be undertaken to schedule remediation of the Riverslea Oil Field evaporation ponds as part of the field restart campaign.
Site visits at the Major Gas Field are progressing installation requirements for metering skids and ancillary equipment in preparation for a gas sales agreement and the restart of production at Major-4.
Emu Apple-1, located within PL 264 in the Surat Basin, has been successfully acidized and progressively brought back online. Pump strokes have now returned to pre intervention rates.
This week, fluid levels in the well will be checked to assess the level of communication with the reservoir, while the hydraulic pump rate will be progressively increased as the well cleans up to determine what post intervention production rates are sustainable.
The company states that early indications suggest the well has better communication than pre treatment monitoring.
Within PL 30, field visits are to be conducted at the Riverslea Oil Field with a primary focus on scheduling the remediation of evaporation ponds, which the company describes as a critical precursor to restarting field operations.
Additional Riverslea-3 oil samples have also been collected and sent to the laboratory to underpin the oil sales agreement for the restart of the Riverslea Field.
Mapping is underway across the Greater Riverslea area to complete a full prospect and lead inventory over PL 30.
The work includes existing play types within the Jurassic Formation sands together with potential targets in the basal granite wash that have not previously been the target of dedicated exploration.
According to the company, these studies will underpin its medium and long term strategy for volume growth across the broader PL 30 area.
At the Major Gas Field within PL 512, additional groundwork will be undertaken with adjacent operators to review requirements for the installation of metering skids and ancillary equipment at the connection point where PL 22 joins the Boxley line, which flows other gas wells into the Silver Springs Gas Plant.
The company states these installations will facilitate the completion of a gas sales agreement, with the aim of commencing production from the Major-4 well this year.
Australian Oil Managing Director Kane Marshall said:
“The Surat Basin field reactivation campaign has truly moved up a gear. With Emu Apple-1 safely back online and strong progress at Riverslea and the Major Gas Field, we are positioned to deliver increased production, commercial flexibility and long-term value for shareholders. Our team’s focus on operational integrity and the strategic restart of key assets ensures continued momentum throughout 2026.”
The company states its Surat Basin strategy is built around operational excellence, the reactivation of core oil and gas assets and an expansive exploration program designed to grow reserves.
Australian Oil Company also states it remains vigilant for new venture opportunities that will complement its core Surat Basin holdings.
The immediate focus for the company is on higher risk larger resource gas plays internationally.