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Sacgasco ( (AU:AOK) ) has shared an update.
Australian Oil Company has completed the acquisition of three petroleum leases and one petroleum pipeline licence in Queensland’s Surat Basin from ADZ Energy (Queensland) Pty Ltd and OGT Energy Pty Ltd, with all conditions precedent now satisfied or waived and the transaction declared unconditional. Completion secures a material onshore asset position for the company in the Surat Basin, with transfer and regulatory documentation, easement assignments and land compensation agreement processes underway, and the immediate focus shifting to finalising regulatory transfers and advancing technical evaluation of the newly acquired licences to integrate them into the company’s broader development priorities.
The most recent analyst rating on (AU:AOK) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Sacgasco stock, see the AU:AOK Stock Forecast page.
More about Sacgasco
Australian Oil Company (ASX:AOK) is an Australian-based energy company focused on conventional oil and gas exploration and production, targeting under-explored, overlooked oil and gas opportunities near under-supplied markets. The company’s core operations are in the Sacramento Basin in California, where it holds a portfolio of natural gas and oil producing wells alongside prospects and discoveries at various exploration and appraisal stages, and it continues to evaluate additional producing and exploration assets to support its strategic growth and shareholder value aims.
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$3.94M
Learn more about AOK stock on TipRanks’ Stock Analysis page.