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Australian Oil Company Limited (ASX:AOK)

ALERT: Price-sensitive ASX Announcement for AOK
Current share price for AOK : $0.002 0 (0%)+
Announcement
Release
8 Dec 2025 8:30AM
Price at Release
$0.002
Full Release
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Summary
Australian Oil Company Limited has entered into a binding agreement with Xstate Resources Limited to acquire their working interests in the Sacramento Basin exploration projects. This acquisition enhances Australian Oil's operational control and aligns project decision-making without additional capital investment, thereby increasing exploration potential. The transaction involves acquiring 100% of Xstate USA Corporation for US$95,103, offset against unpaid cash calls, resulting in no cash outflows for AOK. The company will now evaluate new prospects in Kern County, California, amid regulatory changes facilitating drilling permits and increased gas demand due to insufficient new supply.
Key Points
  • Australian Oil acquires Xstate Resources' interests in Sacramento Basin.
  • Transaction enhances operational control and exploration potential.
  • No additional capital investment required for acquisition.
  • AOK to acquire 100% of Xstate USA Corporation.
  • Acquisition cost of US$95,103 offset against unpaid cash calls.
  • Regulatory changes in California facilitate drilling permits.
  • Increased gas demand expected due to insufficient supply.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.