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Australian Oil Company to pounce on acquisition

Australian Oil Company to pounce on acquisition

Australian Oil Company (ASX: AOC) is poised to divulge details of an acquisition, with the Australian Stock Exchange granting the company a trading halt today.

AOC's shares are currently in pre-open.

In February this year the company raised just under $1.2 million from a placement at $0.10, and in the December quarter 2013 received $1.75 million cash upon resolution of issues related to exploration licence PEL 182 in the Cooper Basin, South Australia.

AOC is currently focused on California exploration opportunities.

The halt will remain in place until the opening of trade on Wednesday 9th April, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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