Managing Director Kane Marshall confirms Australian Oil Company’s transition to producer following the acquisition of the Emu Apple and Riverslea fields.
Australian Oil Co (ASX:AOK) has confirmed near term oil lifting and active production optimisation across the Emu Apple and Riverslea fields following completion of its PL 264 and PL 30 acquisition.
Australian Oil Company (ASX:AOK) has completed its acquisition of 3 petroleum leases and 1 petroleum pipeline licence in Queensland’s Surat Basin, with all conditions precedent satisfied and the transaction now unconditional.
Kane Marshall says the Surat Basin acquisition marks a decisive step in strengthening Australian Oil’s capacity to advance production, mature new drilling opportunities and broaden its Australian growth platform.
Kane Marshall says Australian Oil Company is boosting Californian gas output and eyeing global growth as market conditions improve.
Australian Oil Co. has restructured its Red Earth divestment to enhance near-term cash flow and reduce tax liabilities, supporting its strategic growth initiatives.