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Sacgasco ( (AU:AOK) ) just unveiled an announcement.
Australian Oil Company Limited has announced an $800,000 capital raising through a two-tranche issuance of fully paid ordinary shares to sophisticated and professional investors. The funds will be used to advance the company’s operations in California, optimize production, assess new venture opportunities, and for general working capital. The capital raising has received strong support from investors, indicating confidence in the company’s strategic direction and growth initiatives.
More about Sacgasco
Australian Oil Company Limited is an Australian-based energy company focused on under-explored, high-quality oil and gas opportunities near under-supplied markets. The company is currently engaged in conventional oil and gas exploration and production in the Sacramento Basin in California, with a portfolio of natural gas and oil-producing wells, along with prospects and discoveries at various exploration and appraisal stages.
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$3.18M
For detailed information about AOK stock, go to TipRanks’ Stock Analysis page.