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An announcement from Sacgasco ( (AU:AOK) ) is now available.
Australian Oil Company Limited has issued 190,945,748 fully paid ordinary shares to professional and sophisticated investors as part of a capital raising initiative. This move is aligned with the company’s strategy to enhance its operations and shareholder value, potentially strengthening its position in the energy sector by focusing on under-explored oil and gas opportunities in the Sacramento Basin.
More about Sacgasco
Australian Oil is an Australian-based energy company focused on under-explored, recently overlooked, world-class oil and gas opportunities near under-supplied markets. The company is currently focused on conventional oil and gas exploration and production in the Sacramento Basin in California and has a portfolio of natural gas and oil-producing wells, along with prospects and discoveries at various exploration and appraisal stages. Australian Oil is evaluating the acquisition of oil and gas producing and exploration assets to enhance its strategic needs and deliver shareholder value.
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$2.12M
For an in-depth examination of AOK stock, go to TipRanks’ Overview page.