InvestSMART

Australian Oil Company Limited (ASX:AOK)

ALERT: Price-sensitive ASX Announcement for AOK
Current share price for AOK : $0.003 0.001 (20%)+
Announcement
Release
29 Jul 2026 9:28AM
Price at Release
$0.003
Full Release
download
Summary
Australian Oil Company Limited (AOK) has announced that gas prices at CityGate have risen above US$3 per MMBTU, leading to breakeven and in some cases positive cash flow from its Californian operations. With the completion of maintenance on the Rio Vista pipeline by California Resources Corporation, the company's Rec Board-7 and Rec Board-8 wells have resumed production. These developments are expected to significantly improve AOK's cash flow from its Californian assets. AOK is also exploring commercial arrangements for reinstating its VBC wells to further leverage its pipeline infrastructure in conjunction with CRC operations.
Key Points
  • Gas prices at CityGate have risen above US$3 per MMBTU, achieving breakeven and positive cash flow for operations.
  • Maintenance on the Rio Vista pipeline is complete; Rec Board-7 and Rec Board-8 wells are back in production.
  • Expected production increases and market pricing enhance cash flow outlook for Californian operations.
  • AOK is assessing commercial arrangements for reinstatement of VBC wells alongside CRC wells.
  • The restored production and higher gas prices provide a platform for further development.
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.