Proactive Investors - Run By Investors For Investors

Australian Oil Company increase gas sales revenue

Australian Oil Company increase gas sales revenue

Australian Oil Company (ASX:AOC) has increased its daily sales revenue by $1,000 after the operator of its Rancho-Capay Gas Field in the Sacramento Basin, California, established gas flow from a new reservoir.

Gas flow of 425,000 cubic feet per day was established from the Forbes Reservoir zone, which was covered by produced sand.

AOC has a 55% interest in the well while the operator holds 20%. Fellow Australian company Xstate Resources (ASX:XST) holds a 10% stake.

The company is continuing to assess a number of opportunities to increase conventional gas production in the Sacramento Basin.

It is also progressing discussions with potential funding partners who have shown a genuine interest in the development of the potentially 1+ trillion cubic feet Dempsey Prospect of the Rancho-Capay field.


Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

View full SGC profile View Profile

Sacgasco Ltd Timeline

Related Articles

Northern Territory
May 07 2019
The exploration and appraisal programme will include the drilling and hydraulic fracture stimulation of two horizontal wells
oil rig
Zubair Corporation will pay US$5mln in two tranches to develop Ntorya
oil rig
May 10 2019
The core of the portfolio is in the East Midlands Basin, which includes the Wressle-1 oil discovery,
Copyright ©, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use